Discussion in 'Politics' started by imbalance, Nov 22, 2011.
Well imagine that.
CBO: Stimulus hurts economy in the long run - Washington Times
Assuming the CBO really said anything of the kind (and considering the source, that is far from certain), they just lost any credibility with any reputable reality-based economists with that statement. The idea that federal debt "crowds out" private investment -- ever -- has no basis in fact whatsoever. The only way it could POSSIBLY hurt private investment is by contributing to rising interest rates, which is obviously not the case at the moment, and even if it were, the phrase "crowds out" would still be inaccurate.
Here's a key to why this may have happened: "The non-partisan agency also has changed its model for the spendings impact on the economy."
Well, isn't that interesting. The House changes hands, and suddenly, hey, presto! the CBO changes its model and comes out with a claim that the stimulus hurt the economy, and couches the statement in bogus right-wing economic doctrine with no basis in fact to boot.
Nonpartisan my ass.
yes no reputable economists can go against your emotional based wisdom
they are not reality-based if they do
Shit, now we can expect a bunch of nonsensical diversionary topics.
I've forgotten more about economics than most posters on this forum, definitely including yourself, ever knew.
There is no basis whatever for the claim that federal debt ever has, ever can, or ever will "crowd out" private investment, although IF it drives up interest rates that could increase the cost of capital and that might hurt investment. Except that interest rates are so low right now, obviously that isn't a problem.
This is not fact based not because it goes against my "emotional based wisdom" but because it goes against, you know, the facts.
Read it for yourself......
Director's Blog » Blog Archive » Estimates of ARRA
Rev Moon, shove the BS! Hurting from 0.0 to 0.2% is nothing compared to Pub dysfunction and fear mongering, 2 to 5%...
For you to make that assertion is ridiculous. Do you know any of these posters or their education level? NO
You do know your own pompousity though dont you?
"Ha, Barry! I tanked the US economy and made off with $1.2Billion maybe more!"
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