Cascading Effects of Our Economic Mistakes

A sharp uptick in Social Security filings was reported in 2009. Over and above the fact that many of the Baby Boom generation are becoming eligible, analysts attribute the uptick to job losses from the recession.

This is just one more lesson--as if we needed another lesson, and apparently, many still do--that the disastrous and deliberate de-industrialization of America is a major threat to the survival of our Country.

So-called "free trade," and economic and financial deregulation have bled out millions of jobs from America, and the hemorrhage will continue so long as America continues to embrace these failed and insane policy mistakes. The recessions we continually experience as the result of lack of sensible and necessary government oversight of business always result in job losses--and most of these jobs never return.

The terrible effects of unemployment strike at all age groups. Older people know that when they lose their jobs, it's highly unlikely they will find another. So they file for Social Security as soon as they are eligible, and cease to become contributors to the system when they could otherwise be productive for several more years. This puts the Social Security and Medicare system into a severe downward spiral.

Young people can't find jobs because there aren't any in recessionary times. As a result, this puts an economic burden on families supported by mid-life working people, and a social burden on our Country as a whole as the crime rate related to unemployment rises.

We must reverse the disastrous policy mistakes of the last thirty years and move America back to a full employment economy. In Congress, I will do all in my power to make this happen.