Keynesian Economics Does Not Work

[The Rabbi]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

Public works projects and infrastructure spending is NOT short term. Tax cuts are short term.

Yes it is. The spending for the project ends. And depending on what it is you are left with a white elephant and nothing more.
How many airports to nowhere do we need? What economic value do they provide?
Libs are incapable of thinking beyond Stage One.

 

[EconChick]

Of course there's a mixture but if you're not leaning EXTREMELY far toward supplyside theories and away from Keynes, you don't know much economic history.

We've been running supply side economics since the Reagan years (with the lowest tax rates since then to show for it...)

Why is income inequality still rising faster then ever?

Nyvin, you're one of those people on the left whose posts I like to read but unfortunately you've made a big error with this post.

We have not been running supply side economics since Reagan because a key part of supply side is small government and as close to a balanced budget as possible.

Clinton actually got there at one point after the huge peace dividend handed to him by Reagan and after Reagan had worked so hard to bring down double digit inflation, double digit unemployment, and double digit interest rates which cleaned out the economy's cobwebs.

Reagan did all that heavy lifting that allowed Bill Clinton with the help of the Gingrich-led Congress to clean the budget up (I also give credit to Clinton, but most goes to Reagan for handing the cleaned up economy to him and some to Gingrich for pushing Clinton.) Unfortunately, we still had big spending liberals in Congress trying to push Clinton away from supply side.

But then after Clinton handed Bush a recession to cleanup.... and Al Qaeda attacked and damaged our economy......and declared war we then had to defend against.... and Bush added to spending with Medicare....there has not been true supply side since Reagan.

 

[Bfgrn]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

Public works projects and infrastructure spending is NOT short term. Tax cuts are short term.

Yes it is. The spending for the project ends. And depending on what it is you are left with a white elephant and nothing more.
How many airports to nowhere do we need? What economic value do they provide?
Libs are incapable of thinking beyond Stage One.

Holy ****. Is there anyone who is more stupid then you? Infrastructure is the foundation of COMMERCE. It is what separates first world nations from third world jungles.

Hey MORON...if it takes a week to deliver goods and produce to your local market, vs one day, which goods and produce will have a HIGHER cost to the end user?

So tell me pea brain...what economic value does commerce have?

 

[EconChick]

Also income inequality has been the worst under Obama.

 

[EconChick]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

Public works projects and infrastructure spending is NOT short term. Tax cuts are short term.

Yes it is. The spending for the project ends. And depending on what it is you are left with a white elephant and nothing more.
How many airports to nowhere do we need? What economic value do they provide?
Libs are incapable of thinking beyond Stage One.

Holy ****. Is there anyone who is more stupid then you? Infrastructure is the foundation of COMMERCE. It is what separates first world nations from third world jungles.

Hey MORON...if it takes a week to deliver goods and produce to your local market, vs one day, which goods and produce will have a HIGHER cost to the end user?

So tell me pea brain...what economic value does commerce have?

Jesus, even Communists understand economics better than you do.

 

[EconChick]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

Public works projects and infrastructure spending is NOT short term. Tax cuts are short term.

Yes it is. The spending for the project ends. And depending on what it is you are left with a white elephant and nothing more.
How many airports to nowhere do we need? What economic value do they provide?
Libs are incapable of thinking beyond Stage One.

Holy ****. Is there anyone who is more stupid then you? Infrastructure is the foundation of COMMERCE. It is what separates first world nations from third world jungles.

Hey MORON...if it takes a week to deliver goods and produce to your local market, vs one day, which goods and produce will have a HIGHER cost to the end user?

So tell me pea brain...what economic value does commerce have?

Something tells me you thought all those shovel ready jobs were a brilliant idea too. Anyone who's ever done govt contracting knows there is no such thing because of the solicitation process. We all laughed till we rolled in the floor with that one. But that didn't stop Obama and the press from lying about it.

 

[bripat9643]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

Public works projects and infrastructure spending is NOT short term. Tax cuts are short term.

Yes it is. The spending for the project ends. And depending on what it is you are left with a white elephant and nothing more.
How many airports to nowhere do we need? What economic value do they provide?
Libs are incapable of thinking beyond Stage One.

Notice that BugFucker isn't even bothering to contest my post showing that Hoover was a big spending, interventionist liberal. That fact blows the liberal theory that the to cure a depression is with big government programs totally out of the water.

 

[Political Junky]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

 

[The Rabbi]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

No it didnt work for either FDR or Eisenhower.
That is why Kennedy cut taxes.

 

[Oldstyle]

Even Krugman agreed with the prediction. He said it was too weak, but that the CEA estimates were close to his own.

http://krugman.blogs.nytimes.com/20...stein-on-stimulus/?_php=true&_type=blogs&_r=0

So both the White House and the left's favorite Economist thought that the unemployment rate would spike and then recover without any stimulus, the only difference was the time it would take the get there. Neither thought the stimulus would actually make things worse, and neither said that without the stimulus the US would fall into a depression.

Thanks.

And might I point out that neither predicted 2008, as far as I remember.

Setting the Record Straight Six Years of Unheeded Warnings for GSE Reform

For years, George W. Bush predicted financial difficulties with mortgages if Congress didn't reform Fannie Mae and Freddie Mac.

THIS George Bush???

So Much for Bush's 'Ownership Society'
By Zachary Karabell
Filed: 10/10/08 at 8:00 PM | Updated: 3/13/10 at 5:03 PM

Remember the ownership society? President George W. Bush championed the concept when he was running for re-election in 2004, envisioning a world in which every American family owned a house and a stock portfolio, and government stayed out of the way of the American Dream.

These families were, of course, conservative, or at a minimum traditional and nuclear, consisting of a heterosexual married couple and at least two kids living in a stand-alone home with a yard, a car or two and a multimedia room with a flat-screen television. The latter was a new addition to this 21st-century simulacrum of the 1950s "Leave It to Beaver" idyll. But the dream was the same.

Such a country would be more stable, Bush argued, and more prosperous. "America is a stronger country every single time a family moves into a home of their own," he said in October 2004. To achieve his vision, Bush pushed new policies encouraging homeownership, like the "zero-down-payment initiative," which was much as it sounds—a government-sponsored program that allowed people to get mortgages without a down payment. More exotic mortgages followed, including ones with no monthly payments for the first two years. Other mortgages required no documentation other than the say-so of the borrower. Absurd though these all were, they paled in comparison to the financial innovations that grew out of the mortgages—derivatives built on other derivatives, packaged and repackaged until no one could identify what they contained and how much they were, in fact, worth.

As we know by now, these instruments have brought the global financial system, improbably, to the brink of collapse. And as financial strains drive husbands and wives apart, Bush's ownership ideology may end up having the same effect on the stable nuclear families conservatives so badly wanted to foster.

Newsweek

Wow, and Newsweek wonders why they no longer have an audience? C'mon, Bfgrn...try and provide something that at least makes an attempt at not having an agenda. That particular article could be used by journalism schools on how to write a totally biased account of something. There was a time when Newsweek had a reputation as a quality news organization....that time unfortunately is LONG ago!

Was Bush in favor of home ownership by Americans? Without question. What Newsweek embarrasses itself with is the fact that it was really under the Clinton Administration that the real estate bubble began and that the Democratically led Congress when Bush was in office also pushed "creative" financing to enable more Americans to buy property that they couldn't afford.

What they also totally ignore is that the Obama Administration is now doing exactly what the Clinton and Bush Administrations did...putting pressure on lenders to provide mortgages for those who don't qualify for them.
Obama administration pushes banks to make home loans to people with weaker credit - The Washington Post

 

[The Rabbi]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

Public works projects and infrastructure spending is NOT short term. Tax cuts are short term.

Yes it is. The spending for the project ends. And depending on what it is you are left with a white elephant and nothing more.
How many airports to nowhere do we need? What economic value do they provide?
Libs are incapable of thinking beyond Stage One.

Holy ****. Is there anyone who is more stupid then you? Infrastructure is the foundation of COMMERCE. It is what separates first world nations from third world jungles.

Hey MORON...if it takes a week to deliver goods and produce to your local market, vs one day, which goods and produce will have a HIGHER cost to the end user?

So tell me pea brain...what economic value does commerce have?

What a ******* dipshit you are.
What is "infrastructure"? Do you mean highways? Yeah, those have been built.Bridges? ALready built. Most of the infrastructure that is economically useful has already been built. Building bridges to nowhere and airports that service no one is not economically useful. Please tell me you understand this concept: that not all infrastructure projects offer return on their investment. Please.

 

[Oldstyle]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

For about the millionth time...there is no such thing as "trickle down" economics. That was a term coined by liberals to attack supply side economists.

Capitalism has always been a trickle up affair...not the opposite. Profits are what are left after a business owner has paid expenses not what they claim for themselves at the onset. Workers get paid by law whether a profit is made or not. Workers get paid first...not last.

 

[The Rabbi]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

For about the millionth time...there is no such thing as "trickle down" economics. That was a term coined by liberals to attack supply side economists.

Capitalism has always been a trickle up affair...not the opposite. Profits are what are left after a business owner has paid expenses not what they claim for themselves at the onset. Workers get paid by law whether a profit is made or not. Workers get paid first...not last.

People dont understand that.
I posted a thread on "What is supply side economics." WHat I got were liberals regurgitating 20year old Democrat slogans. They dont understand the first thing about business or economics. They think demand grows the economy and giving poor people money stimulates things. Those ideas are so discredited it is a wonder anyone believes them.

 

[Political Junky]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

For about the millionth time...there is no such thing as "trickle down" economics. That was a term coined by liberals to attack supply side economists.

Capitalism has always been a trickle up affair...not the opposite. Profits are what are left after a business owner has paid expenses not what they claim for themselves at the onset. Workers get paid by law whether a profit is made or not. Workers get paid first...not last.

Well, Bush Sr. called it VooDoo Economics.

 

[The Rabbi]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

For about the millionth time...there is no such thing as "trickle down" economics. That was a term coined by liberals to attack supply side economists.

Capitalism has always been a trickle up affair...not the opposite. Profits are what are left after a business owner has paid expenses not what they claim for themselves at the onset. Workers get paid by law whether a profit is made or not. Workers get paid first...not last.

Well, Bush Sr. called it VooDoo Economics.

When he was running agains reagan for the nomination. What was your point again?

 

[Political Junky]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

For about the millionth time...there is no such thing as "trickle down" economics. That was a term coined by liberals to attack supply side economists.

Capitalism has always been a trickle up affair...not the opposite. Profits are what are left after a business owner has paid expenses not what they claim for themselves at the onset. Workers get paid by law whether a profit is made or not. Workers get paid first...not last.

Well, Bush Sr. called it VooDoo Economics.

When he was running agains reagan for the nomination. What was your point again?

Yes, he did so that he could run as Reagan's VP. He and Reagan also became pro-life to win that election.

 

[The Rabbi]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

For about the millionth time...there is no such thing as "trickle down" economics. That was a term coined by liberals to attack supply side economists.

Capitalism has always been a trickle up affair...not the opposite. Profits are what are left after a business owner has paid expenses not what they claim for themselves at the onset. Workers get paid by law whether a profit is made or not. Workers get paid first...not last.

Well, Bush Sr. called it VooDoo Economics.

When he was running agains reagan for the nomination. What was your point again?

Yes, he did so that he could run as Reagan's VP. He and Reagan also became pro-life to win that election.

He attacked reagan's views so he could run as Reagan's VP? You're less coherent than usual

 

[Political Junky]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

For about the millionth time...there is no such thing as "trickle down" economics. That was a term coined by liberals to attack supply side economists.

Capitalism has always been a trickle up affair...not the opposite. Profits are what are left after a business owner has paid expenses not what they claim for themselves at the onset. Workers get paid by law whether a profit is made or not. Workers get paid first...not last.

Well, Bush Sr. called it VooDoo Economics.

When he was running agains reagan for the nomination. What was your point again?

Yes, he did so that he could run as Reagan's VP. He and Reagan also became pro-life to win that election.

He attacked reagan's views so he could run as Reagan's VP? You're less coherent than usual

Guess I wasn't clear. Bush Sr. changed his mind about VooDoo Economics in order to be accepted as Reagan's VP. He and Reagan both became pro-life to be accepted by the Far Right.

 

[Nyvin]

Nyvin, you're one of those people on the left whose posts I like to read but unfortunately you've made a big error with this post.

We have not been running supply side economics since Reagan because a key part of supply side is small government and as close to a balanced budget as possible.

Clinton actually got there at one point after the huge peace dividend handed to him by Reagan and after Reagan had worked so hard to bring down double digit inflation, double digit unemployment, and double digit interest rates which cleaned out the economy's cobwebs.

Reagan did all that heavy lifting that allowed Bill Clinton with the help of the Gingrich-led Congress to clean the budget up (I also give credit to Clinton, but most goes to Reagan for handing the cleaned up economy to him and some to Gingrich for pushing Clinton.) Unfortunately, we still had big spending liberals in Congress trying to push Clinton away from supply side.

But then after Clinton handed Bush a recession to cleanup.... and Al Qaeda attacked and damaged our economy......and declared war we then had to defend against.... and Bush added to spending with Medicare....there has not been true supply side since Reagan.

Well according to your definition Reagan didn't follow supply side either because his "entire presidency" the deficit only went up almost entirely uninterupted.

Unemployment goes up and down with trends more then anything and I'm kinda sorta against the idea that the national government has much control over it. If you look at the numbers there's regular spikes now and then followed by long periods of declines. It's silly to credit Reagan and republicans with decreasing it when it spiked during HW Bush's term and didn't start falling till 1993-94 when Clinton and the democrats had full control of the government too. Cherry picking certain times and looking at who controlled what is just a child's game. The huge drop in oil prices during the early 80's was a global event that certainly helped things along as well.

What is a real trend that's gotten much worse is income inequality and it has been getting worse specifically since the Reagan years.

And also...crediting the balanced budget to Republicans in congress but faulting Clinton for the recession....really now...? The balanced budget was more credible to global events as well, seeing that Britain experienced a budget surplus almost at the exact same time that we did.

 

[Oldstyle]

Obama s stimulus package 5 years later Dems defend Republicans ridicule - Washington Times
When are liberals going to understand that spending taxpayers money on public works projects is not the answer to our economy. These are short term boondoggles that go to Congressional districts where senior Democrats have the seat. Conservatives, however, must get off the income tax cut trip that they are on. We do not manufacture big ticket items in America anymore. If an individual gets a tax rebate and goes out and buys a washing machine, refrigerator, microwave, television, computer, etc. it stimulates the Chinese economy when factory orders go up. JFK's tax cut of 1962 was a success because orders went up for American factories due to the fact these big ticket consumer items were manufactured in the USA.

It worked for FDR and Eisenhower. Since trickle down, things are worse.

For about the millionth time...there is no such thing as "trickle down" economics. That was a term coined by liberals to attack supply side economists.

Capitalism has always been a trickle up affair...not the opposite. Profits are what are left after a business owner has paid expenses not what they claim for themselves at the onset. Workers get paid by law whether a profit is made or not. Workers get paid first...not last.

Well, Bush Sr. called it VooDoo Economics.

Because he was running against Reagan...in case you hadn't noticed politicians say a lot of things that aren't true when they are trying to get someone to vote for them.