“We must restore confidence to the economy, to consumers and to the markets,” declared The House Democratic Leadership on Friday.
Their solution? Tax rebates and relief, echoing George Bush and probably every other economic analyst. The Federal Reserve has been cutting interest rates for the past six months to achieve the same goal; to entice people to Buy! Buy! Buy!
Not only will this take money away from important public services, but increasing consumption has dire negative impacts. The process of extracting resources, manufacturing products, consuming them, and disposing of them is the very culprit of environmental degradation. And guess what? This consumption will ultimately take us down as well.
In an article entitled 10 Ways Recession Can Help the Environment the author writes: