***So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we’re in? And we believe it is the right package given the circumstances we’re in***
People are blatantly ignorant of economics. You CANNOT consume your way to prosperity.
And the threat of high-cost, scarce energy, nationalized healthcare, expiration of Bush tax cuts, and the prospect of enormous tax hikes at almost every state and federal level is going to keep the economy in the toilet for a long, long time.
W. Churchill said (paraphrased) - trying to spend your way to prosperity is like a man standing in a bucket trying to lift himself up by the handle.