Radio show promises news with no ‘agenda’

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August 15, 2012

Grand Junction Daily Sentinel
P.O. Box 668
Grand Junction, CO 81502

Dear Editors:

As announced in today’s Sentinel – “New KNOZ radio show promises news with no ‘agenda’” – live on-air political debate is occurring daily from 9 to 10 at 97.7 FM.

As listeners will have already heard, both Republicans and Libertarians are continuing to sprinkle the “fairy dust” of “trickle down economics” on unsuspecting local audiences. 

Hearkening back to JFK’s and Ronald Reagan’s tax cuts, these “supply-siders” maintain that tax cuts “eventually” lead to increased revenues resulting from economic growth.

However, as co-host Bill Jones accurately noted, tax revenues always “eventually” rise regardless of tax cuts – due to population growth and inflation.  JFK’s tax cuts lowered the top joint bracket from 90% to 56% over $300,000 of income, while Reagan’s were accompanied by profligate deficit spending – which increased growth and revenues (but not enough to offset the deficits).  As a result, the National Debt (as percent of Gross Domestic Product) doubled under Reagan and Bush I.

That is why Republican David Stockman resigned as Reagan’s Budget Director in 1985, confirming that Reagan’s “conservative” fiscal policies were “Voodoo Economics”.
Monday, Stockman derided Romney’s “Ryan Budget” as being “devoid of credible math or hard policy choices” and thus an “empty conservative fairy tale” – joining Nobel Prize winning economist Paul Krugman, who warned that the “Ryan Budget” should not be taken seriously.  “This is just a fantasy, not a serious policy proposal,” wrote Krugman.
Yet amnesiatic Republicans and their gullible local fellow-travelers do take it seriously – hook, line, and sinker – believing that more tax cuts for the wealthy while gutting the social safety net (especially, Medicare) will somehow magically rejuvenate the economy.
.Stockman also derided the Romney-Ryan ticket’s attacks on the ineffectual and thus “pointless Dodd-Franks regulatory overhaul”, when what is really needed is renewal of the Depression-era Glass-Steagall Act – to protect Main Street from Wall Street.

              Bill Hugenberg
              543 Rim Drive
              Grand Junction, CO 81507
Word Count = 300         257-1998

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