Obama Stimulus had zero impact

Discussion in 'Politics' started by The Rabbi, Dec 9, 2010.

  1. The Rabbi
    Offline

    The Rabbi Diamond Member

    Joined:
    Sep 16, 2009
    Messages:
    67,619
    Thanks Received:
    7,821
    Trophy Points:
    1,840
    Location:
    Nashville
    Ratings:
    +18,214
    Column in the WSJ today by two prominent economists examined the Keynesian idea of gov't spending filling the gap in private demand in regards to the stimulus. What they found was government grants to states and localities merely substituted for local borrowing. IOW, there was no stimulus achieved at all. Aggregate demand was the same as before. The Obama stimulus was, again, proof that Keynesianism is simply wrong.
    John F. Cogan and John B. Taylor: The Obama Stimulus Impact? Zero - WSJ.com
     
    • Thank You! Thank You! x 1
  2. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,177
    Thanks Received:
    14,905
    Trophy Points:
    2,210
    Ratings:
    +36,921
    Obamanomics is an Epic Fail. His only success was that he pulled that stupid Keynesian Theory down with him
     
    • Thank You! Thank You! x 1
  3. boedicca
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    41,775
    Thanks Received:
    12,768
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +22,732
    The Stimulus didn't have zero impact; it had a negative impact on the economy by preserving excessive state and local government spending and saddling the company with tons-o-debt.
     
  4. AquaAthena
    Offline

    AquaAthena INTJ/ INFJ

    Joined:
    Feb 16, 2010
    Messages:
    15,453
    Thanks Received:
    11,061
    Trophy Points:
    2,265
    Location:
    ♥ TEXAS ♥ in Spirit
    Ratings:
    +12,342
    And increasing unemployment. :eusa_whistle:
     
    • Thank You! Thank You! x 3
  5. Capitalist
    Offline

    Capitalist Jeffersonian Liberal

    Joined:
    May 22, 2010
    Messages:
    835
    Thanks Received:
    209
    Trophy Points:
    78
    Ratings:
    +211
    I disagree with you.
    It's great for jobs!

    ABC reported that a Chinese company is helping build a massive wind farm in west Texas. The firm will receive $450 million in Stimulus cash. The project will save or create 300 jobs in Texas and 2,000 manufacturing jobs in China.

    [​IMG]
    Three weeks before Election Day, Senate Majority leader Harry Reid, D-Nev., center, arrives for the dedication of a wind farm in Henderson, Nev., on Oct. 12, 2010. With him are, second from left, Kai Huang, deputy mayor of Shenyang, China; Jinxiang Lu, second from right, chairman and CEO of A-Power Energy Generation Systems, a Chinese company, and Tom Conway, right, international vice president of the United Steelworkers union. Reid’s support, and the plan to create jobs in Nevada, helped blunt congressional criticism that stimulus money was going to the Chinese company, which also plans a large wind farm in West Texas. The company is hoping to receive money through the U.S. Energy Department. (MSNBC)

    Powerful democrats helped a Chinese Firm get stimulus cash for a wind farm
    MSNBC reported:
    Top Democratic fundraisers and lobbyists with links to the White House are behind a proposed wind farm in Texas that stands to get $450 million in stimulus money, even though a Chinese company would operate the farm and its turbines would be built in China.
    The farm’s backers also have close ties with Senate Majority Leader Harry Reid, D-Nev., who, at the height of his hard-fought re-election bid this fall, helped blunt congressional criticism over stimulus dollars possibly going to create jobs in China by endorsing a proposal by the Chinese company to build a factory in his home state. Although his campaign received thousands of dollars in donations from the wind farm’s backers and Reid stood on stage with them at a campaign event they hosted, his office declined to answer any questions about the wind farm’s organizers or their plans for Nevada.


    It's great for China!!!


     
  6. Avorysuds
    Offline

    Avorysuds Gold Member

    Joined:
    Jul 4, 2010
    Messages:
    13,834
    Thanks Received:
    1,655
    Trophy Points:
    245
    Location:
    Eugene Oregon
    Ratings:
    +2,141
    I believe it kept rich people rich...
     
  7. Sallow
    Offline

    Sallow The Big Bad Wolf. Supporting Member

    Joined:
    Oct 4, 2010
    Messages:
    56,535
    Thanks Received:
    6,132
    Trophy Points:
    1,840
    Location:
    New York City
    Ratings:
    +7,394
    The Stimulus not have an impact? That's completely dishonest. It kept people from getting fired and construction jobs are starting up all over. In NYC you can't go far without running into something getting built.

    The problem with the Stimulus is that it was half as much as it should have been..so it's taking alot longer to show results.

    Add in..that it's larded with Republican (conservative ) ideas..such as tax cuts..at least 40% of it. And we all know how well Republican ideas work in relation to the economy (or anything for that matter).
     
  8. kwc57
    Offline

    kwc57 BOHICA Obama

    Joined:
    Jul 13, 2009
    Messages:
    12,154
    Thanks Received:
    2,301
    Trophy Points:
    255
    Location:
    Oklahoma City, OK
    Ratings:
    +2,788
    It had about the same effect that Bush's $600 stimulus checks had........which was borrowed from China.
     
  9. Wry Catcher
    Offline

    Wry Catcher Platinum Member

    Joined:
    Aug 3, 2009
    Messages:
    31,745
    Thanks Received:
    4,242
    Trophy Points:
    1,160
    Location:
    San Francisco Bay Area
    Ratings:
    +8,155
    Rabbi is a liar, and the WSJ is Faux 'News' with a different masthead. "Prominent Economists"? LMAO, have any of you every heard of, let alone read, The Worldly Philosophers?
     
  10. Sallow
    Offline

    Sallow The Big Bad Wolf. Supporting Member

    Joined:
    Oct 4, 2010
    Messages:
    56,535
    Thanks Received:
    6,132
    Trophy Points:
    1,840
    Location:
    New York City
    Ratings:
    +7,394
    It's really sad what happened to the WSJ. They are now a propaganda rag. They even started printing pictures..with colors!

    Unbelievable.
     

Share This Page