Well, inasmuch as their attempts to “stimulate” the economy have essentially destroyed it, they can hardly do worse if they actually try ...
Exactly. The Obama admin has put in place a big economic suppresser in Obamacare. Federal spending isn’t what drives economic growth.Its the private sector. Even if it appears in some cases that federal spending is driving economic growth it is an illusion because those $ feeding it are being consumed and are not self sustaining as is the case in the private sector driven by free market supply and demand.
Here are a few clips where Milton Friedman destorys the notion that government spending drives economic growth.
http://www.youtube.com/watch?v=Hrg1CArkuNc
http://www.youtube.com/watch?v=p31-xQ2Rrz4
http://www.youtube.com/watch?v=MRpEV2tmYz4
The thing that really stands out is the authority with which Friedman addresses the debate. He doesn’t come at it from a position of lack of confidence or apology as so many of our politicians do.