Wall Street's Rough Day, Part 2 (Hannity Video, Newt On Point!)

Newt saying what needs to be said, and now I've check his economic plan to see if there is anything new that couldn't have been implemented years ago instead of the Keynesian Stimulus bill? No.
http://www.newt.org/solutions/jobs-economy

So there is nothing new on the planet for Obama to announce in September, unless he denounces his ways and accept Newt's. I added part 1, but that is mostly Hannity.

The stimulus didn't work because the money multiplier and velocity were (and are) too small, and because the money largely went to keep state and local public jobs, and this is a non-productive sector. Keynes would have disagreed with the Obama/Pelosi axis' action because of those factors.

Tax cuts worked for the Kennedy, Reagan, and Bush II administrations and is what was needed instead of the wasteful stimulus, and what is needed still.

“Tax cuts worked for the Kennedy, Reagan, and Bush II administrations and is what was needed instead of the wasteful stimulus, and what is needed still. “

Tax cuts worked for Kennedy and Reagan. Bush II created the jobs in China. Doubt there is any mileage in tax cuts. Taxes are at the low point of 50 years. Tax cuts won’t restore the jobs lost in automobiles, computers, home goods, clothing and whatever else consumers buy. Unless we want to become another China, we can’t compete on labor rates, polluted air and water.

Having exhausted our home ATM machine and maxed our credit cards, consumers are out of money to goose the economy. So no money, no jobs, no stimulus, no demand, no answer. Changing politicians won’t make any difference.

Even more recent figures show the manufacturing economy is as large as it has been in anytime in history. You would not even want to live in 1998 according to your thesis. These are the US Commerce department figures for economic activity in the manufacturing part of the economy in billions of dollars. If you cannot get the fact correct, then your policy recommendations are probably wrong. Do not confuse manufacturing as a percent of GDP with the actual size of manufacturing. GDP has grown considerably since any point in history you care to start from. It is not relevant what fraction of that total is accounted for by manufacturing. People are employed by all sectors of the economy. Gross manufacturing output is a huge number in the US GDP -- recent levels are the highest ever. Take a look at the top 10 nations in GDP and see where 4.5T would land you. Nothing to sneeze at or ridicule. Manufacturing

year:billions of dollars
1998:3839.9
1999:3975.7
2000:4140.6
2001:3893.4
2002:3848.3
2003:3954.0
2004:4242.0
2005:4657.8
2006:4921.6
2007:5239.8
2008:5340.1
2009:4522.4

No, US income-tax revenues went UP after the Bush tax cuts, so:

a. You are wrong about jobs created by Bush II, and

b. You have made the same mistake the libs make, assuming tax-cuts equal revenue losses.

You are not a troll, are you?

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.