By now we’ve all heard Democratic governors sound off, every one critical of Obama’s stimulus effort. “I’m disappointed in Washington,” said Ill gov Pat Quinn. “They don’t understand how you fight a recession. The federal government has to run a deficit in recessionary times because we’ve got to get out of the ditch.”
It is Quinn who does not understand how to "get out of the ditch."
“I think the bottom line is they’re not seeing the jobs that should have come from it,” says West Virginia gov Joe Manchin. “They oversold the job creation part of it,” says Colorado gov Bill Ritter.
Sorry Manchin and Ritter but there are no jobs to come of it, not on a net basis anyway and that is true no matter how much $ BO throws down the drain.
Review: Where in the world does the “stimulus” money come from? A slush fund of some sort, held in reserve all these years for just such an emergency? No, it comes from 1) taxes or 2) borrowing or 3) inflation. Higher taxes mean less spending, business, all of us.. US gov’t borrowing means crowding out the private sector, the employer. Inflation (accommodative Fed) means pain for all.
It’s that simple. There is not one drop of evidence that FDR’s or any other gov’t spending programs created jobs on a net basis and plenty that they have not. We have cited many of these in past blogs. BO’s programs are at best a wash.
But at least the Democrats are consistent. Their signature failure is to always and everywhere take what appears to be the easy way out, or pretend to. Their followers take the bait. Now it’s come back to haunt them.
Robert Craven
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