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Who cares about 300 million people. The main thing is that the gun-toting, god-fearing, patriotic, anti-commie, anti-intellectual, flag waving, christian conservative white guys get their way, because they are always right about everything all the time.
Yeah, there are plenty of haters - on both extremes. I hate the haters.
I just wish people would simply Google "Keynes" and "Keynesian economics" before they scream "communist!" Stimulative government spending in a contracting economy has absolutely nothing to do with socialism/communism.
Yeah, there are plenty of haters - on both extremes. I hate the haters.
I just wish people would simply Google "Keynes" and "Keynesian economics" before they scream "communist!" Stimulative government spending in a contracting economy has absolutely nothing to do with socialism/communism.
Anyone that understands Keynesian economics knows that our federal government isn't playing by the rules. If they are ignoring Keynes then the aren't really using Keynesian policies. They are just dragging his name through the mud.
Anyone that understands Keynesian economics knows that our federal government isn't playing by the rules. If they are ignoring Keynes then the aren't really using Keynesian policies. They are just dragging his name through the mud.
We're way over spending on defense and under spending every where else. There is absolutely no need to spend more on the military then the next 50 countries combined and I say that as a combat vet. Also we're under taxing and we need to get the top tax rates at least back up to what they were under Reagan; which would be 50%.
Anyone that understands Keynesian economics knows that our federal government isn't playing by the rules. If they are ignoring Keynes then the aren't really using Keynesian policies. They are just dragging his name through the mud.
Or using Keynes as cover, to promote their own political agendas, collect power and paying back political doners to get reelected?
Ridiculous analogy. The money is for the most part being spent on the same old same old. Like a person that maxed out his or her credit cards just to stay afloat, only postponing the day of reckoning. I see little of the kind of "investment" that will result in long term growth. Whatever good may come of this will soon be wiped out by new draconian environmental laws now being prepared. 1930s here we come.
It would be great if you could expound on your thoughts besides just rattling off tired cliches. Much of the new spending is being used to keep the financial system from collapsing -- if that had occurred, unemployment would be much higher, borrowing would be much more difficult and revenues to the government would have collapsed, thus leading to a worse economic scenario than the current spending. Just imagine a world in which Lehman, Merril, AIG, Citibank and Bear Stearns all went bankrupt within the span of a month or two... it would have been devastating and caused further downstream bankruptcies. Then, add the bankruptcy of our two major auto manufacturers and all their suppliers... again, within the span of two months! If that happened over 2 or 3 years, fine, no problem. But the impact to the economy if all those things happened would have been horrific... and you would be among the mob blaming Obama for letting it happen. That's what I call an investment.
The second part of the spending -- the stimulus -- is again designed to invest in infrastructure, health care modernization, green technology and state health care obligations that will hopefully reduce our nation's spend in the long term. You don't have to agree with the premise or the predicted outcome to see that the spending is designed to have a pay-back or stave off a worse outcome.
Military spending is the country's biggest welfare program where the owners make more than the workers. Socialism is fine if you own a defense factory. Not fine if you own a small business making shoes and a Chinese sweat shop just underbid you.
Keynesian economics requires counter cyclic spending. The problem occurs when the economy has recovered and the Republicans take over then do not apply the taxation required to prevent a speculative boom and pay off the debt. The Republicans prefer to have everyone borrow money from them instead of taxing it from them and prevent the speculative boom from getting started.
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