Saturday, July 11, 2009
Obama says Economic Stimulus Plan Worked as Intended
Comedy gold.
Then again, if Obama's intent was to orchestrate a wholesale theft of wealth from the productive for the benefit of the connected, undermine the rule of law, and lay waste to best practices of accountability and transparency, while propping up key northern democrat constituencies while placing children tens of thousands of dollars in debt before they graduate fifth grade, then I guess he may be right.
Then again, if Obama's intent was to orchestrate a wholesale theft of wealth from the productive for the benefit of the connected, undermine the rule of law, and lay waste to best practices of accountability and transparency, while propping up key northern democrat constituencies while placing children tens of thousands of dollars in debt before they graduate fifth grade, then I guess he may be right.
Labels: Economics, economy, finance, Obama, stimulus
Comments:
Hi Jason,
I've been reading your blog since you were posting from Iraq. I don't think I've ever posted a comment in all that time though.
Anyhow, I keep hearing or reading about the administration claiming that the stimulus did its job. But I've not heard any opposition then come back with the comment that if the job is done, return what stimulus bill moneys haven't been spent to the tax payer by dissolving all of the stimulus program that is still outstanding.
Not that I believe for a minute that the stimulus has done any job worthwhile to the people of this nation.
Perhaps you could give a bit of a voice to this idea.
Thanks,
Steve Sherbeck
ex-Marine Sergeant
I've been reading your blog since you were posting from Iraq. I don't think I've ever posted a comment in all that time though.
Anyhow, I keep hearing or reading about the administration claiming that the stimulus did its job. But I've not heard any opposition then come back with the comment that if the job is done, return what stimulus bill moneys haven't been spent to the tax payer by dissolving all of the stimulus program that is still outstanding.
Not that I believe for a minute that the stimulus has done any job worthwhile to the people of this nation.
Perhaps you could give a bit of a voice to this idea.
Thanks,
Steve Sherbeck
ex-Marine Sergeant
# posted by 
: 2:39 AM
: 2:39 AM
Steve,
Thanks for the note.
I'm not the one to oppose stimulus in principle, because I DO believe that government can play a useful countercyclical role in managing the economic cycle.
Further, I supported the first round of TARP, and while I do think the details were botched, I think it's still clear to me that with the entire credit system teetering on the brink, the Treasury and the Fed did, in fact, need to make a massive intervention, and publicly let it be known that the Fed was standing by to provide the necessesary liquidity to see the system through.
Many conservatives STILL have not honestly faced the potentially catastrophic downside of a misguided adherance to conservative purism just then. But I thought then, and still maintain, that the time for a pure lazzaiz-faire, hands-off policy was BEFORE the crisis was at hand and the bubble was inflated to gargantuan proportions.
I think government SHOULD accelerate spending during slow economic times. The flip side of that is I think government SHOULD restrain spending and buy back bonds during good times, or when interest rates are high and bond prices are, conversely, low.
So I'm not against stimulus in principle. I AM against insanity, though, and I AM against the deliberate assault on the productive class being waged by the Obama administration and their libnoramous enablers in Congress. I AM against committing already scarce tax dollars to projects which cannot be undone, and which will provide no lasting capital improvement benefit. I'm against massive theft from the productive class in order to grease the palms of labor unions and other key Democrat constituents. I'm against the federal government owning GM (and therefore going into competition with Ford).
And I think there is a lot to be said that if Stimulus (with a capital "S") worked so damn well, then we wouldn't need a second round.
Obama is acting as if he had not a thought about the future fiscal long-term solvency of the country.
Post a Comment
Thanks for the note.
I'm not the one to oppose stimulus in principle, because I DO believe that government can play a useful countercyclical role in managing the economic cycle.
Further, I supported the first round of TARP, and while I do think the details were botched, I think it's still clear to me that with the entire credit system teetering on the brink, the Treasury and the Fed did, in fact, need to make a massive intervention, and publicly let it be known that the Fed was standing by to provide the necessesary liquidity to see the system through.
Many conservatives STILL have not honestly faced the potentially catastrophic downside of a misguided adherance to conservative purism just then. But I thought then, and still maintain, that the time for a pure lazzaiz-faire, hands-off policy was BEFORE the crisis was at hand and the bubble was inflated to gargantuan proportions.
I think government SHOULD accelerate spending during slow economic times. The flip side of that is I think government SHOULD restrain spending and buy back bonds during good times, or when interest rates are high and bond prices are, conversely, low.
So I'm not against stimulus in principle. I AM against insanity, though, and I AM against the deliberate assault on the productive class being waged by the Obama administration and their libnoramous enablers in Congress. I AM against committing already scarce tax dollars to projects which cannot be undone, and which will provide no lasting capital improvement benefit. I'm against massive theft from the productive class in order to grease the palms of labor unions and other key Democrat constituents. I'm against the federal government owning GM (and therefore going into competition with Ford).
And I think there is a lot to be said that if Stimulus (with a capital "S") worked so damn well, then we wouldn't need a second round.
Obama is acting as if he had not a thought about the future fiscal long-term solvency of the country.
