You don’t need to be an economist to judge Obama’s big surprise tomorrow night.. There are just two main considerations: Tax cuts of any sort are just fine. Gov’t spending is at best a wash.
The masses fell for the first "stimulus" because both history and economics are a bore, at least to most folks. This allows individuals like Obama and his co-conspirators to put one over. We don’t think even they ever believed that it would work. It was that they had to posture.
The US does not maintain a slush fund for "stimulus" money. Then where does it come from? From 1) taxes, 2) borrowing or 3) the Fed’s printing press. Taxes discourage business; US borrowing crowds out the private borrower; inflation hurts everyone. This is why FDR’s own Treasury Sect, Henry Morgenthau, told the Senate that he’d spent a ton of money and for squat. It didn’t work.
Oh, but then what did he know.
And if Obama cooks up a new regulation or two, witness this recent complaint from free enterprise: John Schiller, chairman and CEO of Energy XXI, said "if the government would get out of the way, from a regulation standpoint, and let us [XXI] do what we do good you'll see us continue to hire and grow this economy."
Oh, but then what would he know?
Robert Craven
The masses fell for the first "stimulus" because both history and economics are a bore, at least to most folks. This allows individuals like Obama and his co-conspirators to put one over. We don’t think even they ever believed that it would work. It was that they had to posture.
The US does not maintain a slush fund for "stimulus" money. Then where does it come from? From 1) taxes, 2) borrowing or 3) the Fed’s printing press. Taxes discourage business; US borrowing crowds out the private borrower; inflation hurts everyone. This is why FDR’s own Treasury Sect, Henry Morgenthau, told the Senate that he’d spent a ton of money and for squat. It didn’t work.
Oh, but then what did he know.
And if Obama cooks up a new regulation or two, witness this recent complaint from free enterprise: John Schiller, chairman and CEO of Energy XXI, said "if the government would get out of the way, from a regulation standpoint, and let us [XXI] do what we do good you'll see us continue to hire and grow this economy."
Oh, but then what would he know?
Robert Craven
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