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History has proven that statement incorrect. From ~ 1920-1922 government spending and taxes were reduced by ~40 percent which got us out of the depression. Unemployment went from 12 percent to under 4.
what did 1920 to 22 have to do with the Big Depression or are you talking about something else?
If the federal government stops spending then which part of the economy picks up the slack in terms of making up for the lost GDP?
The point I'm making is that federal spending needs to be reduced GRADUALLY. The worst thing you can do to an economy that is slowly coming out of an economic downturn is to drastically reduce government spending.
GDP includes spending which is what got us INTO this mess. You've been reading/listening to too many clueless Keynesian econonmists who've been taught that spending grows an economy. QUITE THE CONTRARY. You first have to produce before you can spend. What have we produced in the past 20 years to speak of????
The faster and by the greatest amounts possible that we reduce spending the better off we will be.
In other words you can't spend what you haven't first saved. We need to let the GDP go down from a spending standpoint and start saving and PRODUCING to boost it back up BEFORE we can spend again. Managing the country's budget isn't any different than running your own household budget.
Read HOW AN ECONOMY GROWS AND WHY IT CRASHES by Peter Schiff. Study Austrian Economics.
Here's an example of how WRONG the economists including Ben Bernanke who seem to cling to Keynes when it clearly does not work have been. They haven't been right about anything! They try to tell us that inflation is GOOD that we need MORE of it. Huh? We need higher prices for food and gas? 'Fraid not Ben BErnanke.
Note Bernake says there would NOT be a housing crisis in 2005!
In 2007 he predicted strengthening
In 2006 Peter Schiff predicted a recession that would last for years. He says the problem is too much consumption and borrowing and not enough producing and saving
Arther Laffer a dumb Keynesian says that Peter was off base.
Peter says the housing prices were unsustainable and they would come crashing down to earth
Listen to all the CNN "experts" who laughed at Peter who were dead WRONG!
AT the end Ron Paul pins down Ben Bernanke and asks him if he ever would admit he was wrong about the economy?
That's it. Harding knew how to handle it. Stop the policies that manipulate the economy.
Yeah and cut back the size of the government which Harding did and LOWER taxes (not raise them) which Harding did and LET BUSINESSES FAIL and let the Free Market work WITHOUT GOVERNMENT INTERFERENCE which he did-- all of which are the exact OPPOSITE of what both the Democrats and Republicans have been doing for the past 10 years!
The only thing worse than an ardent GOP/DNC supporter is a person who sees a candidate they like but does not support him because they don't think he/she can win. Truly selling out one' beliefs in favor of 'the odds.'
YES, I've seen this even in older people who you'd think would have more mental maturity but will not vote for candidate they want because they don't think their candidate can win. Ross Perot would have won the presidential election if those who wanted to vote for him actually did so. He got 20% of vote as a write-in.
YES, I've seen this even in older people who you'd think would have more mental maturity but will not vote for candidate they want because they don't think their candidate can win. Ross Perot would have won the presidential election if those who wanted to vote for him actually did so. He got 20% of vote as a write-in.
wow, interesting you would use the term "older people" I know of several older people who did just that: voted for Perot including my parents and my mother in law as well as most of her family in WV. I don't think age has anything to do with it. Yes, some will not support a person they think will lose, but certainly that crosses over all lines. In 1980 I knew 6 people who voted for Andeson, 4 were 60 plus.
People the truth is the economy has recovered during times of increased taxes and decreased taxes. There is no fact that states ONLY lower taxes will lead to a recovery or ONLY higher taxes will lead to a recovery. It has been proven in history there is no one answer! It's like debating how the humanity started, there is no 100% correct answer, at least not yet.
Ron Paul stinks, Jesus Christ. He's no more relevant in this process than Yosemite Sam.
The racist imbecile was soundly rejected in '08 primaries and doesn't stand a chance in hell now. Wake TF up, for God's sake.
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