Posted on 07/05/2010 7:41:49 AM PDT by Oldeconomybuyer
Friday's unemployment report was grim. Despite this and other evidence that the recovery is on shaky ground, Republican senators in Washington have decided that austerity is called for.
Economists almost universally are urging stimulus spending over deficit reduction. That's not because they're liberals. It's because there is no realistic path to long-term deficit reduction without short-term economic growth.
The GOP's current argument makes no economic sense. Federal unemployment benefits are always classified as emergency spending, which allows the money to be borrowed. If money is simply moved around, without injecting any new spending into the economy, the stimulative effect is lost.
The GOP deficit posturing is part of a cynical election-year strategy to bring the Senate to a halt and prevent Democrats from claiming any legislative accomplishments.
(Excerpt) Read more at mercurynews.com ...
This is a lie and it also shows the stuck in the mud thinking of liberals. If stimulus didn't work do it bigger.
Ha ha ha ha ha - this is satire, right???
Are they talking about the same “political party” that said that unemployment would not go above 8% if the first, pork-filled, payback-filled stimulus passed??? and they should be trusted with MORE of the same?? It’s laughable.
Maybe someone should tell this democrat shill that the democrats have a super majority in congress. It takes a bipartisan effort to defeat anything the democrat thugs present.
New Mexico...wanting to emulate old mexico?
BTW, where is the Super Barf Alert?
End unemployment. Make what we import.
LOL.
“If money is simply moved around, without injecting any new spending into the economy, the stimulative effect is lost.”
What does this idiot think unemployment is? The money is taken from those making it and simply given to those who aren’t; no new wealth is being created, the money is just passing hands.
Oh, and then there’s taxes, medicare/medicaid, social security, etc. The list goes on and on.
I wonder if this is meant as propaganda or the writer actually believes it.
When the coffee tastes funny and there's so much sugar you can't see the coffee, the problem isn't that you need a touch more sweetener. When the economy isn't growing and the federal deficit is $1.7T, the problem isn't that you need more stimulus.
What a lie. In fact the G20 Summit fell apart because the majority of world economists call these ideas insane.
“The problem with the first “stimulus” was that we did not spend “ENOUGH” money on the problem.”
But now the we have Obamacare, the money that this “deficit neutral” program, along with Crap & Tax, revenues will pour into the treasury and the tax payers will make money on the deal. We'll all become equal and happy.
(For the “Greater Good”.)
They are going to have to eat one of their lies. Either it doesn't stimulate the economy, or, Republicans aren't the ones blocking it!
“Maybe someone should tell this democrat shill that the democrats have a super majority in congress. It takes a bipartisan effort to defeat anything the democrat thugs present.”
And I guess that’s the point. Liberals are unwilling to “own” any of this mess. It’s so much easier to say “I didn’t do it and it’s not my fauslt”. Let’s lay it on Bush and the gOP.
Look at the source and the @ss hat that wrote it...I think they MIGHT get the message in 2012...
LOL. Only brain dead economists would be encouraging more stimulus spending. It is insanity - continuing to do the same thing that has not worked so far.
Another thing, how come the Democrats think it is hunky dory for the Bush tax cuts to expire? That means less money to be spent in the economy too. They just want excuses to confiscate your money to spend the way they want to buy votes to get elected.
Whenever anyone else has an emergency, and the credit line has been reached, they have to reduce expenses elsewhere to pay for the emergency, but congress, just increases the debt limit and keeps on spending like there’s no tomorrow.
Those writing these “editorials” cannot be this stupid.
Unemployment checks, even if they did stimulate the economy will last as long as they keep pumping out more checks. The policy has to be coupled with long-term, permanent jobs that can only be created through less taxing, regulating, and spending, something the party of these editorialists are not about to do. This is nothing but demagoguery for political effect.
” It’s laughable.”
It is insanity, and would be laughable, if it were not such a tragedy.
Pick any 5 random residents of a trailer park and you’ll find more wisdom than the staff at the Mercury.
If unemployment payments are so good for the economy, why don’t they double them? Then also double the welfare payments and the economy will really take off!
That’s the ticket!
The existing stimulus has yet to be completely spent and has done little good in turning on the engine of private job creation. It is political and the Democrats want to be able to say, see all the money we are spending to solve the problem. Even the EUropeans are beginning to see the light and these pin heads are wanting us to dig a deeper hole. If you want to spend money do it on a business and capital gains tax cuts.
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