During a speech on Thursday, Democratic presidential candidate Bernie Sanders said:
And, by the way, almost everything he [Franklin Roosevelt] proposed was called “socialist.” Social Security, which transformed life for the elderly in this country was “socialist.” The concept of the “minimum wage” was seen as a radical intrusion into the marketplace and was described as “socialist.” Unemployment insurance, abolishing child labor, the 40-hour work week, collective bargaining, strong banking regulations, deposit insurance, and job programs that put millions of people to work were all described, in one way or another, as “socialist.” Yet, these programs have become the fabric of our nation and the foundation of the middle class.
Well, he is right, They are socialist and they, unfortunately, have become the fabric of the nation. And as one would expect, who understand the basics of economics, these programs are a disater.
Social Security will never be able to pay out the money it has promised to , the minimum wage has made large numbers of black youth unemployable and uemployment insurance prolongs recessions.
And Bernie wants to give us more of this?