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The GOP congress knows stimulus works, but they're not going to support any Obama initiative for obvious reasons. If Mittens becomes president, they won't hesitate to support any of his spending proposals. All Romeny's draconian stump pieces are indeed political. He knows stimulus would get the economy going. There's no such thing as a Austrian president in the US. The job of the president is to spend.
If it works, where? Bush started it with some refund checks, then Obama doubled down, apparently for shovel ready jobs, but mostly to fund government workers, nothing much was fixed and he jokes about "apparently shovel ready jobs were not shovel ready"...
Here is a thought, let us try a massive, really massive cut in spending, size of government, regulations for ten years and see what happens. If all bad, well we can always hire government works, make more regulations, but what if it works?
Uh that is entirely irrelevant to Keynesian economics.
No, it is very relevant, actually. Both believed in government interference in the economy as if the economy needed a babysitter in the Fed and the White House.
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Both Reagan and Bush presided over periods of economic growth and never tried to contract or limit it.
Incorrect. Reagan did try to limit it by raising taxes, while Bush failed to see the problem.
The GOP congress knows stimulus works, but they're not going to support any Obama initiative for obvious reasons. If Mittens becomes president, they won't hesitate to support any of his spending proposals. All Romeny's draconian stump pieces are indeed political. He knows stimulus would get the economy going. There's no such thing as a Austrian president in the US. The job of the president is to spend.
No, the job of the POTUS is clearly outlined in the US Constitution (see Article 2). Spending is not part of that description nor is spending part of his oath of office rather the oath is to "preserve, protect and defend the US Constitution from enemies both foreign and domestic."
What's the reason for raising taxes during overheating though?
tax policy has an effect on the economy as a whole. raise them and you slow the economy, lower them and you speed up the economy. and while this is a rule of thumb, it is not cast in stone.
The GOP congress knows stimulus works, but they're not going to support any Obama initiative for obvious reasons. If Mittens becomes president, they won't hesitate to support any of his spending proposals. All Romeny's draconian stump pieces are indeed political. He knows stimulus would get the economy going. There's no such thing as a Austrian president in the US. The job of the president is to spend.
Romney strikes me as very much the chameleon and more likely a puppet, rather than someone with a philosophy of his own. He has said virtually nothing about ideology so far - just "trust me, I'm rich".
From his public statements he strikes me as somebody with past business decisions totally in the hands of hired money managers. I have been looking for clues to his business acumen in his speeches - but I have heard no concrete means, methods, or game plan toward any fiscal problem.
The same liberals who renounce God and religion place blind faith in the theory of a gay Englishman from a century past. His preaching is equally unscientific.
The same liberals who renounce God and religion place blind faith in the theory of a gay Englishman from a century past. His preaching is equally unscientific.
Kinda funny when you think about it...
They've harkened back to Ted Kennedy, Carter and MLK on the first night; and the GOP are the ones that should be on black and white television? Me thinks it's the pot calling the kettle black.
This has been more a get out the vote convention, than anything else.
No Bush was not a Keynesian. If you read the works of Keynes he tends to view tax cuts as much less efficient then government spending due to the multiplier effect. Thus no Keynesian would have followed Reagan and Bush tax policy. The majority of Keynesian practices that occurred under Bush were related to the multiple wars he fought, and were merely incidental having much more to do with non-economic theories about international relations and Neo-Conservativism that were coming from the foreign policy people and not the economists.
Reagan and Bush's central economic achievements were their tax policies which were firmly rooted in the theories of a famous Chicago School economist, Arthur Laffer, who was an adviser to Reagan and significant influence on Cheney.
Keynesian economics lost its unquestioned role in the 1970s ever since then the GOP has followed the Chicago school, particularly in their emphasis in targeting capital gains and dividend taxes.
The GOP congress knows stimulus works, but they're not going to support any Obama initiative for obvious reasons. If Mittens becomes president, they won't hesitate to support any of his spending proposals. All Romeny's draconian stump pieces are indeed political. He knows stimulus would get the economy going. There's no such thing as a Austrian president in the US. The job of the president is to spend.
Where does it say that in the U.S. Constitution?
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