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I think its funny that you sat here and blamed the GOP for perpetuating the problems, especially considering the whole crash took place under a Democratic Congress. It gets even funnier that you want to suggest more government spending, which would then increase unemployment even more.. But hey, you'll always be able to blame the GOP again, even if it does make such claims silly.
Ok, I'll bite. What policies of the Democratic Congress caused the crash?
Back when the original 2009 Obama stimulus was enacted, some of us warned that it was both too small and too short-lived. In particular, the effects of the stimulus would start fading out in 2010 — and given the fact that financial crises are usually followed by prolonged slumps, it was unlikely that the economy would have a vigorous self-sustaining recovery under way by then.
By the beginning of 2010, it was already obvious that these concerns had been justified. Yet somehow an overwhelming consensus emerged among policy makers and pundits that nothing more should be done to create jobs, that, on the contrary, there should be a turn toward fiscal austerity.
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Last edited by Ibginnie; 06-03-2011 at 07:23 AM..
Reason: copyright violation
I think its funny that you sat here and blamed the GOP for perpetuating the problems, especially considering the whole crash took place under a Democratic Congress. It gets even funnier that you want to suggest more government spending, which would then increase unemployment even more.. But hey, you'll always be able to blame the GOP again, even if it does make such claims silly.
I have never blamed it totally on the GOP. I find it funny that you think all this took place because of 2 yrs of Dem control of the House under Bush. The bubbles had been building for a decade or more, they burst. I blame Dems and Repubs for not protecting the Country. I have consistantly called for the Repubs to engage in the fixing process, but instead they use a pointless TParty sect to get political gain. Which, by the the way, is backfiring.
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.
its not rocket science.. Where on gods earth do you think government gets the money from? THE PRIVATE SECTOR.. So you cant take money out of the private sector, and then expect spending to increase..
Quote:
Originally Posted by MTAtech
What you are proposing -- cutting spending in the wake of a severe recession is the exact opposite of sensible policy.
Cutting spending, caused an economic boom under Clinton years. Sensible policy would be not taking money out of the economy and then by some miracle, expect people to spend more..
Ok, I'll bite. What policies of the Democratic Congress caused the crash?
The Republicans tried for 5+ years to reform the mortgage industry to stop any bubble from taking place. They even had Congressional hearings, and the Democrats stopped reforms THIRTEEN TIMES. They even ridiculed people for suggesting there would be a future bubble that will burst..
^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?
I have never blamed it totally on the GOP. I find it funny that you think all this took place because of 2 yrs of Dem control of the House under Bush. The bubbles had been building for a decade or more, they burst. I blame Dems and Repubs for not protecting the Country. I have consistantly called for the Repubs to engage in the fixing process, but instead they use a pointless TParty sect to get political gain. Which, by the the way, is backfiring.
I have yet to see you post ANYTHING other than "GOP".. You again are now calling on the GOP to engage in "fixing" process, while celebrating policies that would be even more destructive. Maybe you need to sit down and further analize the damages that would be caused if your suggestions were suddenly implimented. Here is a hint, look at the stimulus bill and the failure that has become. Dont like that one, how about the New Deal.. decade long failure.. And you want more of it..
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