Posted on 08/10/2010 3:35:31 AM PDT by TigerLikesRooster
Please--No More Stimulus
Brian S. Wesbury and Robert Stein 08.10.10, 6:00 AM ET
Christina Romer, the chairwoman of president Obama's Council of Economic Advisers has announced her resignation. While some people say her departure is a sign of deep divisions in the Obama team, we take her comments, about getting along with Larry Summers and enjoying every minute of her tenure, at face value. You, of course, can decide for yourself.
Romer's infamous forecast that the $800 billion Obama stimulus bill would keep the unemployment rate at or below 8% will go down in history as one of the worst by any political economist. A 131,000 drop in jobs during July and an unemployment rate holding at 9.5% are not the headlines a president needs going into mid-term elections.
If Romer is taking the fall for all this, she has herself to blame. Her forecast of the economic benefits of government stimulus was not only wrong, but flawed. Politicians love Keynesian economists; they tell them what they want to hear: "Bigger government is good." Romer apparently fell into this trap. Now others are doing the same thing. We have one thing to say. Please, no more stimulus.
(Excerpt) Read more at forbes.com ...
P!
If we are going to do more stimulus...let’s just give every kid in America $300 and let them spend it. It doesn’t make any difference and at least we know it’ll flush through the system within twenty-four hours after distribution.
Where have they guys been...Obama’s plan, raise taxes, increase spending, increase gov’t jobs, increase debt, increase regulations, Nov can’t come fast enough...
The REAL stimulus package could start by making all the “Bush” tax cuts permanent.
I do know the makers of those Recovery Signs at every phony work project are having a banner year.
0-bummer has stimulated the nation into an economic cardiac arrest. Definitely not the arrest{s} that is{are} needed.
Nothing to worry about. I believe the last jobs report before the election will be for September. The news on jobs will be unexpectedly good. Maybe unbelievably good. The rat politicians and the MSM propaganda apparatus will have plenty of time to proclaim the second coming of the Sepia Savior.
bump
Unfortunately, any effect the stimulus would have had was wasted because of the wet blanket policies of this Administration. Obamacare, Cap and trade (on the shelf for now), tax hikes, the EPA regulating carbon dioxide output, etc.
She can return to the ivory tower at Berkeley and continue to pollute young minds.
Which she does best. She has in good company there which includes Anita Hill.:-)
Well, not counting Treasury Secretaries or Chairmen of the Federal Reserve, of course.
IIRC Romer and her husband’s research showed the multiplier of government spending to be LESS then one.
She may not have been in favor of more stimulis?
As wrong as Romer was she is still being accepted back at the U of C Berkley to teach, what else, economics. Do you think any of her students will challenge her teachings? Will they bring up how wrong her application Keynesian theory was? Or, will they allow her to simply pollute their minds?
I used to know a girl whose dad was teaching poetry at some private university. She always laughed at him(rebelling phase never stopped for her) saying how clueless her dad is when his students approach him and tell him how impressed they were about his lecture, in order for him to write a nice recommendation letter for a law school, still he was completely con'ed by their comments and spend days to compose a nice recommendation letter.
Soebarkah happens.
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