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€uromeinke, FEJ. and Ghoulish Delight RULE!!! NA abides. |
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Join Date: Jan 2005
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Well, lets look at just that - presuming you are referring to the depression....
My favorite economist, among others I could link to but won't bother, dispute the commonly held view on government spending and the effects on great depression. A quote from the first paragraph of the link above, being itself a quote from FDR's treasury secretary - Quote:
As far as cash on hand....I attempted to find links to what I alluded to in the above, and in the 2 minutes I spent could not, so I will withdraw that for now. The effects of the Obama stimulus packages have done.....nothing. Perhaps even made it worse. When he was pushing hard to get it passed, though he and his administration have now admitted (they kind of had to) that their predictions were wrong, he said if it was passed unemployment would peak at below 8% (a projection, certainly - it was not a promise). He was off by a factor of 25%. He gets away with saying that it would have been worse, but that's certainly not provable. So, no....I do not believe bigger government is the answer to coming out of economic difficulties. In fact, I believe it has made it worse. |
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