Tracking Presidents Obama and Bush side by side and the economic growth experienced during each corresponding quarter an interesting picture is starting to form. Both inherited recessions (Obama more so than Bush), both got out of them, both experienced a marginal recovery, but right about now is where Bush got the "largest tax cut in history" passed through congress and Obama is going to flog the dead horse once again with his latest bribery/stimulus package to bail out idiot humanities majors from their student debts.
Regardless of where you sit on the political spectrum, Obama and the Keynesians have their work cut out of them. While marginally beating Bush in quarters 3-8, Bush starts to dominate in quarters 9-10. And if the graph were to be continued past where Obama is currently at, the growth doesn't slow down. It's now the 11th hour for Keynesianism.
4 comments:
They say the definition of insanity is doing the same thing over and over, and expecting a different result.
How many more failed stimulus plans do we need, before the government folks realize they do not work?
Lets go back to Greece in 2008. A write off would have been painful, but in 2011 the entire issue would be over. Instead they want to pump even more money into Greece in the year 2011. Greece will still go broke, the government intervention is just delaying the process.
In Capitalism, making bad decisions usally results in going broke. Modern governments are just rewarding bad behavior, and killing off the private sector.
The Keynesians will never be convinced they are wrong. if the economy improves, they will say it proves the truth of their polices.
If their policies fail, they say that not enough money was spent.
To Ano 7:51 and the Captain, this guy hits the nail on the head.
These socialists will not agree to any examples. North Korea South Korea, East and West Germany, oh no capitalism does not work.
The trillion dollar stimulus package fails, so it was not big enough.
This is the great mystery of socialism. How does it remain so popular, despite failing under every application? What appeal does socialism have to people? America enjoyed huge prosperity under a free market system. Why would anyone want a socialist state, after seeing what happens in socialist states?
These people can not be reasoned with, and maintain their dreams of a socialist paradise.
Why have so many people fallen under the spell of socialism?
If I remember my economics classes, Keynesian theory is that to stimulate the economy the government should increase spending and cut taxes.
Of course, Obama's not supporting tax cuts...
And nationalized healthcare doesn't seem like the sort of spending that could stimulate the economy...
So, Obama's just an outright socialist.
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