francoHFW
Diamond Member
UE was 7.8% when it passed, so it's obviously more Pubcrappe for the brainwashed...
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It's a very similar situation. Without the stimulus, the economy would have remained in recession throughout 2009 and we'd have several million fewer jobs today. If you think that's a better situation, I don't really know what to tell you.
Without the stimulus the bad companies would fail, new companies would prosper, and unemployment would have been under 8% like Obama's advisor said the stimulus would make it.
Doubtful. Without the stimulus, unemployment would likely be 12-13% right now (if not higher).
So true. Japan has been following the Keynesian prescription of deficit spending, government stimulus, and artificially low interest rates for 25 years and the only thing they have to show for it is a debt to GDP ratio of 280% and growing.The same reasons they haven't worked in Japan for the last 25 years.
So true. Japan has been following the Keynesian prescription of deficit spending, government stimulus, and artificially low interest rates for 25 years and the only thing they have to show for it is a debt to GDP ratio of 280% and growing.The same reasons they haven't worked in Japan for the last 25 years.
I challenge anyone to show even one case where Keynesian economics has worked*. It's a great theory, but it doesn't work in practice.
* by the way -WW2 was not a Keynesian policy prescription. It was a war.
Everything Obama has done since entering office has been counter productive to doing business. Everything. He has made it harder and more expensive to start a new business or hire more people. True, he inherited a poor hand, but he played it very poorly by doing things to help his supporters instead of doing what was best for all of us.
Would have indeed put us on a different path than the one we currently are on. But for a man that has his whole life surrounded himself with subversives, leftists, Communists, Marxists, Domestic Terrorists?WhatObama should have done from Day #1:
1. Issue an executive order to freeze all federal employment at existing levels and do not replace any non essential workers that retired, quit, or were fired.
2. Issue a freeze on ALL non essential buying at the federal level - order federal employees to use existing equipment, furnishings, decorations, supplies unless new ones were absolutely essential.
3. Issue an Executive Order that only essential government contracts will be issued and those will go to the lowest bidder who qualifies to the do the work whether union or not, whether at union wages or not.
4. Ask Congress to cancel the second half of the TARP funds that President Bush left for President Obama to use.
The above four measures would have saved billions, set a magnificent example, and would have put most of the American people squarely behind him.
5. Make an empassioned plea to Congress to make the Bush tax policy permanent for the next ten years or until a fair and impartial permanent flat tax could be put together and presented to the American people for comment and input. (This would have freed up up to six trilion in investment capital that American businesses are sitting on here at home and abroad.)
6. Push Congress to relax as many regulations as possible that are not essential to protect the life, liberty, or well being of the American citizens. (This would have encouraged American businesses to put those trillions in investment capital to work.)
7. Leave Obamacare on the shelf or assign it to professionals to work on to come up with the most effective, efficient, and economical way to reform the healthcare system.
8. Assure commerce and industry that Cap & Trade was out of play for the foreseeable future.
9. Appoint a professional Commission to look at Medicare, Social Security, and the federal portion of Medicaid and present him with the more effective, efficient, and economical ways to reform these programs with the least pain for those currently dependent on them.
10. Put the best financial minds in the country to work to fix the flaws and holes in the banking and mortgage industry.
If he had done this, I am confident that we would have begun pulling out of the recession within a few months and would be back to a booming economy by now. Some businesses would have failed and there would have been some intermittant pain, but that happened anyway. But he would have laid out the blueprint for a successful economy for a free people and would have gone down in history as one of America's greatest Presidents.
Unfortunately, his model seems to be a bigger, stronger, more intrusive, and ever more authoritarian government governing an ever more dependent and submissive people. And I don't think he CARES whether unemployment is high or the economy is hopelessly bogged down. I think the more we need the government to 'save us', the happier he is.
It just didn't fit his ideology. Many of us knew it from the begining and tried to warn others.
Without the stimulus the bad companies would fail, new companies would prosper, and unemployment would have been under 8% like Obama's advisor said the stimulus would make it.
Doubtful. Without the stimulus, unemployment would likely be 12-13% right now (if not higher).
Neither one of us can prove either one of those claims now can we?
Remember when Japan failed to arrest its housing collapse and failed to provide adequate monetary stimulus?
How'd that work out for 'em?
The 2008 meltdown created a three trillion dollar hole in the economy. Obama tried plugging it with a less than one trillion stimulus. We're also facing massive unemployment, something that's a legacy of the 2008 meltdown and that can't really be blamed on Obama. We're also facing a consumer strike, as consumers (consumer spending is 70% of GDP) cut spending as their equity (house, stockls) is shot to bits and they don't know if they'll be in employment next month.
So there's really not a lot he can do. Further stimulus is off the table due to the GOP, consumers aren't going to feel like spending until they've reduced their debt and feel secure in their jobs and the economy in general. It's going to take a long time for things to get better, and it doesn't look like they will anytime soon.
There's actually a lot he can do, Raoul but it's all counter to his core belief that more government is the answer to every problem. Instead of spending another half a trillion dollars on a stimulus that won't work any better than the first stimulus...how about if he did these three simple things...repatriate corporate profits earned overseas by not taxing those profits if they use that capital to either hire new employees or buy new equipment made here in the US...announce a two year moratorium on all new regulations...and reform the tax code so loopholes are taken out but the overall rates are lowered. Doing those three things will interject over a trillion dollars in additional investment capital to the US that would have been spent elsewhere...allay business uncertainty about looming regulations and make our tax structure less punitive to small businesses.
That's what he should do, Raoul. All of those things wouldn't cost us any money at all...yet would actually boost job creation in the Private Sector, which will in turn boost the revenues that make it possible to pay for jobs in the Public Sector. I won't hold my breath though because the progressives now running the country are intent on having us relive the Great Depression just so Barack can play FDR.
Remember when Japan failed to arrest its housing collapse and failed to provide adequate monetary stimulus?
How'd that work out for 'em?
Really, Japan... you wana compare all this with Japan...
Japan has 2 1/2 times our debt...
Remember when Japan failed to arrest its housing collapse and failed to provide adequate monetary stimulus?
How'd that work out for 'em?
Really, Japan... you wana compare all this with Japan...
Sure.
Yep, that guy was one of george Bush's biggest supporters and he supported all of Geiorge's successful policies like deregulating the financial industry. He's a big GOP donor and here he is repeating GOP talking points. So what?
Steve Wynn is a Democrat, you fucking Tool
Since when? He was Bush appointee to the Kennedy Center board and while he's given money to candidates of both parties, his donations to Republicans have been much larger.