Thom Hartmann on Countdown: This is an Absolute Consequence of Reaganomics.

Thom Hartmann looks at what the Republicans are currently doing towards the US car industry as a continuation of Reagan's assault on American unions. They really are, as a party, bitterly opposed to American workers being properly represented in any meaningful way.

And he has advice for Barack Obama:

Hartmann: David what he needs to do immediately is read Alexander Hamilton's 1791 report to Congress on manufactures. Hamilton laid out this six step plan to build an industrial economy in the United States and we followed it. We, Congress actually put into place in 1792 and it stood until Ronald Reagan came along and started deconstructing this, followed by George Herbert Walker Bush, Bill Clinton and George Bush now and the legislatures, mostly pushed by the Republicans taking this thing apart. You could argue some of this started with Taft-Hartley. But basically the founders laid this thing out. They had it figured out and it worked. We built the biggest industrial infrastructure and industrial economy in the world.

We have gone, when Reagan came into office we were the largest exporter of manufactured goods and the largest importer of raw materials on the planet. And the largest creditor. More people owed us money than anybody else in the world. Now just twenty eight years later we're the largest importer of finished goods, manufactured goods, exporter of raw materials which is kind of the definition of a third world nation and we're the most in debt of any country in the world. This is the absolute consequence of Reaganomics.

The current problems in the American car industry are the absolute consequence of Reaganomics, as much as the current economic disaster can be laid at the door of that failed political policy which stated that one must deregulate the markets and give more and more to the rich in the hope that some would trickle down to the rest of society.

People are greedy which is why markets need to be regulated. The Republicans have no answer to the current economic downturn as it was produced as a result of the policies of deregulation which they have used to define themselves ever since Reagan came to power.

All they can offer is more of the same, which is why their natural reaction is to kick a union when they have the chance to do so, even if that would result in millions of Americans becoming unemployed.

I've said it before but we are witnessing the death of Reagonomics, and the fact that the Republicans have no answer other than more of the same, even as the economy teeters on the edge of collapse, proves that point more than anything.

"Deregulate and cut taxes". It's all they know. So we shouldn't be surprised that they are repeating this mantra at a time when it is hugely inappropriate.

UPDATE:

And, whilst considering what is happening regarding the American auto industry, am I the only person who finds this simply outrageous:

Still, autoworkers remain angry with the senators who tried to negotiate wage and benefit concessions from the union, then scuttled the House-passed bill that would have granted the loans and set up a "car czar" to oversee the nearly insolvent companies and get concessions from the union and creditors. Their top targets were Senate Minority Leader Mitch McConnell (R-Ky.); Senator Bob Corker (R-Tenn.), who led negotiations on a compromise; and Senator Richard Shelby (R-Ala.), who has been a vocal critic of the loans.

Kentucky, Tennessee and Alabama all house auto assembly plants from foreign automakers, and union officials contend the senators want to drive UAW wages down so there would be no reason for workers at the foreign plants to join the union.

"They thought perhaps they could have a twofer here maybe: Pierce the heart of organized labour while representing the foreign brands," UAW president Ron Gettelfinger said at a Friday morning news conference in Detroit.

Here we have American Republican Senators negotiating with foreign car manufacturers in an attempt to bring down the wages of American workers. That is beyond outrageous, that is an offence that should see them hounded out of office.

UPDATE II:

Dear God, these loons have even lost Pat Buchanan.



UPDATE III:

The Young Turks give their take on this.



Hat tip to Crooks and Liars.

Tags: Alexander Hamilton, Bailout, Countdown, David Shuster, GOP, Reaganonics, Ronald Reagan, Thom Hartman, UAW, Union Busting