THIS is why congress needs to leave their mitts off of trying to "fix" the economy!!
 

...And probably why every time government tries to run a business, they screw it up...

http://thehill.com/homenews/news/177...4bQrI.facebook

Report: Majority of Congress with no education in business
By Mike Lillis - 08/23/11 12:47 PM ET

Almost 80 percent of lawmakers have no academic background in business or economics, even as Congress grapples with deficits, unemployment and other economic issues of tremendous complexity, according to an independent analysis released Tuesday.

The Employment Policies Institute (EPI) found that only 8.4 percent of lawmakers majored in economics or a related field, while just 13.7 percent studied topics related to business or accounting.

"This research suggests that our elected Representatives may want to dust off their Econ 101 textbook (if they have one) before trying to tackle weighty questions about the impact of taxes, spending, and debt on our economy and the labor market," EPI's release warns.

Most Capitol Hill lawmakers (55.7 percent) focused their studies on government, law or the humanities, EPI found, while 11.5 percent majored in science- or technology-related fields.

The report arrives as Congress continues to joust over deficit reduction, spending cuts, tax reform, and the role of the federal government in pulling the country out of a prolonged jobs crisis.

Republicans argue that the size of government ? combined with enormous levels of federal spending ? have contributed both to the recent recession and the slow pace in pulling out of it. They want to cut taxes, slash spending and scale back regulations they say are strangling private sector job creators.

Democrats, on the other hand, see the government playing an active role in bolstering the economy. They're pushing proposals designed to create jobs by increasing infrastructure spending, lending a lifeline to states and hiking taxes on corporations that outsource jobs.



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This makes sense, my Hebrew brethren.

Most of them went to school to become politicians. Weeeeeee!

most business people do not either. so what?

So is that their fault or voters fault?

For the past 10 yrs business has been shipping jobs overseas for short term gains. Wages have been stagnet for 30 yrs. If it wasnt for cheap credit people would of realized how truly fucked they have been. Yep more of that is the answer.

More like, the best of the worst...

Americans have been breed to think that government run businesses and socialism is awfull by the mass media which is controlled by the big businesses that want to own and run them for profit.

"Hey lets get the bankers to fix the economy after all they broke it!"... That will cost you tens times what universal health care and a free eductation system would cost please.

Few businessmen in office. Jobs going overseas. We suggest no change.

Lawyers in office. Lobbyists in pocket. Medical bills getting insane. We suggest drastic change.

Sounds kind of strange.

Focus of education doesn't mean everything, especially when you have the types of connections and help these guys do. I wouldn't be surprised if most of them have economics specialists in their offices giving advice.

That piece of paper means nothing.

Plenty of people do very well without.

Some you may have heard of.

Bill Gates.
Steve Jobs
and many others

I'm just thinking that trying to control one of the biggest economies on the planet might be helped with just a bit of theory here and there.


.:2 cents: