“WE TOLD YOU SO! WE TOLD YOU SO! WE TOLD YOU SO!”
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Just a message to the fools of the electorate that made this nightmare happen.
It was clear the morning of 11/4/08 that the republic was over. Our fellow-citizens did this - those who voted for Obozo and those who stayed home and did nothing.
Excellent article!
Lo and behold, the unemployment numbers for every month since (and including) the election have been appalling. Chickens coming home to roost indeed.
It’s hard to feel sorry for my fellow Americans who voted for Change-O and now, suddenly they’re unemployed.
A Very True and Frightening Post!
Thursday, February 12, 2009
Spending Money Today to Lose Money Tomorrow
Posted by: Michele Bachmann at 5:55 PM
As Congress readies itself to spend $300 million on golf carts as part of their multi-hundred-billion-dollar stimulus proposal, the non-partisan Congressional Budget Office (CBO) has provided some very alarming numbers - and Congress should take heed.
According to the CBO, in 2009 and 2010, 98% of the tax cuts in the Democrats’ economic “stimulus” package will go into effect, providing for 1.4% growth in our nation’s Gross Domestic Product in that time. However, the other 2% of the stimulus tax cuts will go into the economy between 2011 and 2019 - along with about half the spending in the package. The problem with this equation is that the $1.1-trillion price tag (which includes the interest on the total package), our increasing debt and our crowding out of private sector activity will drive down our Gross Domestic Product to .2% less than it is today, prior to the stimulus.
So what you want to take away from these numbers is this:
Spending $1.1 trillion today will result in a loss of 0.2% of our wealth tomorrow. (Check out the Graph)
According to the peer-reviewed research and methodology of Dr. Christina Romer, the President’s head of the Council of Economic Advisors and the nation’s chief economist, The Republican Economic Recovery Plan creates twice the jobs at half the cost.
Americans know that tax cuts are a better way to immediately stimulate the economy than wasteful government spending.
http://560wind.townhall.com/Common/Print.aspx
“America pulls out own teeth, counts on Tooth Fairy for retirement payoff.”
Headline Story
NEWSMAX.COM
Stimulus Sellout: 3 GOP Senators Slashed Billions in Tax Cuts; Specter Got $6.5 Billion
Thursday, February 12, 2009 6:32 PM
By: David A. Patten
The “gang of three” — liberal Republican Sens. Arlen Specter, Olympia Snowe, and Susan Collins — who handed President Obama the stimulus bill he so desperately needed, apparently sacrificed billions in tax cuts during final negotiations over the measure in order to reduce its cost.
Economy tanking = Obama’s fault.
Things are going to get so bad under President BlackBerry that I won’t get any satisfaction rubbing the noses of those responsible in the mess they made possible.
This is an excellent article!
Unfortunately many people will blame Bush because the problem started while he was President. I reply that things were fine back when we had a Republican Congress.
Timing can be messy in economics.
Some actions have delayed consequences (lags). Furthermore, the consequences of some actions accumulate. Not much happens after the causal event, but the effects gets bigger and bigger over time.
A common real world analogy would be turning on an electric stove to boil water. A critic might claim there is no causal connection between turning on the stove and the boiling of water. You turned the burner on and nothing happens. By the time the kettle does whistle, the critic can claim some other cause that may have just preceded the boiling of water.
How could the Community Reinvestment Act passed under Carter and reinvigorated under Clinton cause a recession under Bush? At least a part of the answer is that the effects grew over time.
Another problem with timing in economics is expectations. I think this article is right in arguing that investors (who by the way are also consumers) got cold feet about a Pelosi-Reid-Obama economy long before Obama’s inauguration and first policy decision.
to his credit, Bush tried to warn people about Fannie and Freddie......
this is all the rats....all of it.