The government has been moving from one stimulus scheme to the next trying to shore up the capitalists declining profit system. The latest tax-cut package includes an extension of unemployment benefits for some workers who have been without a job between 26 and 99 weeks, in the midst of a bill that is a boon for the wealthiest corporations and individuals.
Democrats and Republicans are concerned about the U.S. budget deficit, which is growing in part due to these stimulus measures. The capitalists depend on their government to keep the system functioning. But with their profit margins under pressure, they dont want more of the surplus value they extract from workers going to finance the state than the rulers consider necessary. Whether through taxes or otherwise.
What concerns working people is not their deficit per se, but how they intend to balance it: freezing wages, cutting social programs, and putting more workers out on the streets. At the same time the bosses and their government clamp down on workers, they urge us to get deeper into debtspend and borrowto prop up what is increasingly a teetering house of cards.
Economic devastation and wars are what working people can look forward to under capitalism in the coming decades. The necessity and possibility of working people taking power to end these horrors will be discussed at an upcoming public meeting in New York January 15 on What Kind of Socialism for the 21st Century? The Long, Hard Battles Ahead. (See announcement on front page.)
U.S. stimulus measures have little impact on crisis
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