At least when Reagan was in office the jobs picked up. I remember walking out on Nov 23rd...right in the middle of the work day. I never said a thing. One of the best days of my life. I found a job 3 days later with more pay. Also felt good to stick it to my employer.
So that should be proof that government money stimulates the economy.
"So that should be proof that government money stimulates the economy."
What kind of moron wrote that?
Oh....right...IQFree.....
No better indication of government schooling than the dopes who have learned to raise their hand even though
they know nothing about the subject....but get that pat on the head.
You, IQFree, are the poster child for that kind of scholar.
Will you ever....ever.....post on a topic about which you know something?
1. Professor Romer heads the White House Council of Economic Advisers, which analyzes government programs and the economic environment and recommends policy to the president.
SheÂ’s considered one of the premiere Great Depression academics.
In 1994, the husband-and-wife team released a study concluding that the economy responds when the Federal Reserve acts, for example, by lowering interest rates. They also noted, however, that fiscal policy --
stimulus packages for example -- had not helped lift the U.S. economy out of past recessions.
Francis, David R. ‘The Fed Stands Alone As Recession Rescuer,’ The Christian Science Monitor, July 15, 1994(4)
2. The Romers released another study in November 2008 that showed a tax increase equal to one percent of gross domestic product reduces output by 3 percent over the next three years. Republicans have used this study to argue against Obama's ambitions to change the tax code.Evans, Kelly, ‘U.S. News: Obama Gets Depression Scholar in Romer,’ The Wall Street Journal, Nov. 26, 2008
Romer has said that fiscal policy, such as government stimulus packages, doesn't help economies recover from recessions.
WhoRunsGov: The best political profiles on the web
3. Along with hubby, David, Romer wrote a fascinating paper on the wonderworking power of tax cuts. Their analysis found that "tax increases appear to have a very large, sustained, and highly significant negative impact on output ... [and] that tax cuts have very large and persistent positive output effects." The key, they found, is to also cut spending so you won't get lured into raising taxes down the road.
Bottom line: Cutting taxes good. Raising taxes bad.
Christina Romer: Obama's Secret Tax Cutter? - Capital Commerce (usnews.com)
4.
“…multiple studies have shown, government spending has little stimulative value. One of those studies was done by Obama’s new chief economic adviser, Christina Romer of UC Berkeley, who found $3 in increased Gross Domestic Product (GDP) for every $1 in tax cuts. Increased spending generates at best a mere 40 cents of GDP growth on the dollar. Third, that 40 cents actually goes to special interests like labor unions, politically influential contractors in favored industries and state and local political allies of the party in power.”
The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks [PDF], April 2009. American Economic Review, forthcoming.