Video: Why Obama’s stimulus failed

Discussion in 'Politics' started by Stephanie, Dec 12, 2011.

  1. Stephanie
    Offline

    Stephanie Diamond Member Supporting Member

    Joined:
    Jul 11, 2004
    Messages:
    70,236
    Thanks Received:
    10,818
    Trophy Points:
    2,040
    Ratings:
    +27,360
    posted at 2:30 pm on December 11, 2011 by Tina Korbe

    As a former resident of Silver Spring, Md., I was particularly interested to watch this video from Reason.tv, which makes my one-time hometown a case study for Obama’s stimulus failure. The vid is long, but well worth watching from start to finish because it reflects the reality of the stimulus rather than the theory behind it — a theory that liberals still invoke even in the face of astonishing evidence of the failure of the stimulus. Sure, it sounds as though it would be effective to inject money into areas of the economy in need of a jolt — but, unfortunately, the government can rarely be trusted to spend taxpayer money in a manner that actually would create jobs.
    Theoretically, for the stimulus to have worked, the government would have had to target idle resources. Instead, the government funneled money into already-existing government contracts. Similarly, for the stimulus to have worked, state leaders would have had to spend stimulus money on top of what they were already spending. All too often, they used stimulus dollars to cover general expenses rather than to increase overall spending. And on and on …
    As economist Veronique de Rugy says at the end of the video, “The main lesson of the stimulus is creating jobs is a very complex process and, certainly, it can’t be directed by a top-down institution that pretty much fails at everything it does.” Bingo.
    [ame=http://www.youtube.com/watch?v=MKCFj_JYb9c]Why Obama's Stimulus Failed: A Case Study of Silver Spring, Maryland - YouTube[/ame]



    thanks to with comments..
    Video: Why Obama’s stimulus failed « Hot Air
     
  2. WillowTree
    Offline

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,192
    Thanks Received:
    10,174
    Trophy Points:
    2,030
    Ratings:
    +14,769
    What they should have done is write a check to each of the 50% of
    Americans who pay Federal Income Tax.. We would have used that money much more wisely.
     

Share This Page