Leftist Exec Makes Marxist Plea for $1 Trillion in Government Spending
What's another $1 trillion here and there among friends - especially when it promotes a leftist agenda?
Throwing around a big number like that obviously isn't a problem for one liberal executive. Woody Tasch, the chairman of Investors' Circle wrote in the November 15 Christian Science Monitor that since we can spend money on Iraq, we can spend $1 trillion over five years for socialist causes.
"Economists project that the cost of the war in Iraq, when all is said and done, will come in at $1 trillion or more," wrote Tasch. "I say: Let's do it again! Let's allocate another trillion dollars - but this time for the good of all humanity and all species. Let's do it with the same moral urgency and vision that has made America great at so many critical junctures in history."
Tasch's proposal would come out to $200 billion annually [$1 trillion in five years] - roughly 1.5 percent of the U.S. gross domestic product. That would be enough to gobble up almost half of the U.S. GDP annual expansion, growing at a rate of 3.2 percent.
"The financial returns of the 20th century depended upon environmental and social trends that are unsustainable. The old worldviews and economic institutions are no longer adequate. We must begin to move, and move boldly, in a new direction," wrote Tasch sounding eerily familiar to the last line of Karl Marx's "Communist Manifesto":
"The proletarians have nothing to lose but their chains. They have a world to win. Workingmen of all countries, unite!"