Sunday, January 22, 2012

The Food Stamp President?

A lot has already been written about the reasons for the increase in the number of people receiving Food Stamps during the past three years and I see no reason to repeat the litany of one factors. What has emerged during the GOP campaigns is some clarity about the economic assumptions of a possible Republican administration. One assumption is that the most imrportant contributor to job creation - maybe even the only contributor - is lower taxes for the job creators, that is, rich Americans. Seemingly missing from the GOP job creation equation is the financial health of middle class Americans, the people who would be buying the goods produced by the new employees of the job creators. The availability of capital is important, but less important than the availability of a healthy market for new products. As someone observed recently Amazon would never have succeeded in Africa because there would have been no customers to buy what Amazon was selling.