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And THIS is recovery? Praytell, what would be labeled "continuing stagnation"?
Yes, believe it or not the recession officially ended 24 months ago. I remember it distinctly because the breaking headlines interrupted one of the best episodes of Unreal Housewives of Pennsylvania Avenue, the one where - oh wait, I better not spoil it in case you haven't seen it yet...
Markets ebb and flow, doing nothing should allow it to rebound, as opposed to mandates up the ying yang after 1/20/09 (NHC) creating 2 trillion left better unspent, or worrying about WHER Boeing adds a production line (DUH-That's a ZERO sum game).
BTW, 2 trill is many millions of new jobs if spent on capital equipment, payroll, etc.
So your solution to a depression or deep recession is to do absolutely nothing? I never heard of wishful thinking as a strategy.
When has what you propose shown success?
I'm sorry, but upon reading the Constitution, I was unable to find the mandate where the Federal Government was to act in the event of a recession or depression. Maybe you can find it since you're so smart.
So in the mean time, yes the government should do absolutely nothing. After all, didn't the government cause this crisis in the frist place with its "everyone should own a house" scheme?
How does cutting government spending create jobs? Government spending puts money into private hands who then spend it, creating a multiplier effect. Cutting spending cuts off money to private hands. Contractors layoff workers as government contracts are cancelled; government lays off workers, etc.
What you are proposing -- cutting spending in the wake of a severe recession is the exact opposite of sensible policy.
Your point is lost on conservatives. They just simply refuse to see it and can give no reasonable response as to why they feel as they do.
^Correction: This is what hyper Keynesian cheerleaders like Paul Krugman have been warning. He has zero proof that had the stimulus been double what it was the country would be improved.
Simply put, the economy is global - we don't live in a bubble. Crises abroad that causes spikes in oil prices or concerns on the stability of the euro have a non-negligible effect on our economy. Yes, domestic policies are the most important, but to even pretend that economists have predictive skill in their models is absurd. In fact, as a climate scientist who readily criticizes the accuracy of our own weather and climate models, I contend that we have the upper hand on any sorts of predictability, not economists.
That said - once again, these policies are proving ineffective and our government leaders are running around just squawking to get political points without any jobs agenda. The Republicans should take leadership on this now and pass sweeping jobs creation legislation in the House. What's the problem here?
What would sweeping jobs creation legislation look like? I always believed the government didn't create jobs, the private sector did, until recently anyway. We now have more people working for the government than in the private sector. The tipping point has been reached.
What jobs could the government possibly create besides more government jobs ?
The government cannot force companies to hire or do you think they can ? (GM doesn't count )
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