Bernie Sanders And The Economy

1646 WordsMay 9, 20167 Pages
Jonathan Harvey Morris HELA 10 Hour 5 8 May 2016 Bernie Sanders and the Economy With over 9 million votes and 42% of the popular vote in the Democratic Party primaries, one man has started what he calls a “political revolution”. He has gained widespread support for a political ideology that he calls democratic socialism through funneling the anger of Americans toward banks, the upper class, and trade deals. While he may seem appealing to many Americans, his flaws greatly outweigh his strengths. Bernie Sanders should not be the next President of the United States because his economic policies are extremely irresponsible and in some cases dangerous. After the Federal Reserve raised interest rates in December of 2015, Bernie Sanders wrote a scathing editorial in the New York Times, saying the Fed should not have raised rates. He didn’t, however, stop at saying the Fed should not have raised interest rates. Sanders went on to say “As a rule, the Fed should not raise interest rates until unemployment is below 4 percent.” His reasoning for this was that “Raising interest rates now is a disaster for small business owners who need loans to hire more workers and Americans who need more jobs and higher wages.” The implication made here is that there are small business owners who could afford to hire more workers and start new projects if the rates stayed low, but they would not be able to afford those employees and/or projects if the rates rose. To an ordinary bystander, this
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