Does Anyone feel like Bailing

Originally Posted by TheMercenary

Historically deficit spending has not worked. It failed for Hoover, Roosevelt, Ford, Bush, and even for the country of Japan. The only thing that goes up is national debt. It is Keynesian economics. Taking the money out of the pockets of the public and putting it into the pocket of the government to spend with reckless abandon is not going to get us out of this mess. Stimulus packages do not work in the long term.

Of course it worked for Roosevelt... in the first 3 years of the New Deal programs, unemployment was cut in half and the GDP increased at nearly a similar rate.

And this was well before ('32-35) any WW II spendng, so that old argument that it was war spending doesnt fly in light of the facts and data. It restored and rebuilt the economic base on which war-related industries were later created.

The others you list never applied such an economic plan.

What didnt work was Bush's $1 trillion tax cuts.

*shrug*
You just dont agree with all those economists in the articles I posted that the stimulus has helped...so they must be wrong.

Anyone who disagrees with you is wrong.....some things never change.

Even the conservative American Enterprise Institute has acknowledged it helped

The real economy also responded to the massive stimulus but remained heavily dependent on it. In the United States, growth during the second half of 2009 probably averaged about 3 percent. Absent temporary fiscal stimulus and inventory rebuilding, which taken together added about 4 percentage points to U.S. growth, the economy would have contracted at about a 1 percent annual rate during the second half of 2009.

but, in their opinion, is not the long-term solution.