Source? Hell, I just fell off the potato truck yesterday, I don't have a nobel prize in economics like you. :rolleye33: The stimulus money is not recurring.
Digital Media: How Obama got Keynes wrong - Feb. 5, 2010 IT Growth comes from a radio interview with the Director of the Louisiana Technology council. Green job growth: From Pew Charitable Trusts Entrepreneurship Best Places to Launch a Small Business 2009 - Baton Rouge, LA - FORTUNE Small Business Best Places to Launch a Small Business 2009 - Lafayette, LA - FORTUNE Small Business Greater New Orleans, Inc. > Rankings High tech manufacturing major wins: Orion instruments Blade Dynamics V Vehicles (if it gets off the ground) Dynamic Fuels. Your statement about tax cuts and spending during a recession is wrong in light of what most economists think. You may think it doesn't make sense, but the learned dudes in the field say you are wrong. Friedman argued that a decrease in taxes with an increase in deficit spending was the way out of a recession. Not all of it is recurring, but a lot of it is. PArt of it was used to fund teacher salaries (an ongoing expense), to plug medicaid shortfalls (an ongoing expense), increases unemployment benefits and extends weeks (an ongoing expense). Don't tell me there are not recurring items in the bill. There are plenty of them.
'Not one dime' will be added to the deficit? Not exactly. Wouldn’t it be nice if you could use a $100 billto buy groceries and then deposit that same Benjamin in the bank to help pay your monthly credit-card statement? Regular Americans would call this either magic or fraud. Washington Democrats call this “health-care reform.” Obamacare: Cooked Books You Can Believe In - Article - National Review Online
And didn't you just say . . . "That is where Obama screwed up. He cut taxes and increased spending on recurring outlays that are sure to swell future budgets."
They don't know what all is in the health care bill. They don't know what the total cost of the healthcare bill will be. And, they sure as hell don't know where all of the money is coming from? You have fallen head over heels in love with the chosen one and you have lost your cynicism and skepticism. You have chugged the kool aid. You are drowning in progressive waters. You are an elitist. Who woulda thunk it?
i agree that in principle deficit spending is ok, provided is it on an actual investment, like infrastructure or education, but it never is. the one most important thing though, always is, no matter how much we sre spending, never, ever raise taxes. if our debt becomes unmanageable then the only response is to cut spending. raising taxes is counterproductive and ruins the economy. in fact i think the best thing to do during a recession may be to lower taxes and raise spending at the same time. that would of course be in a perfect world where government spending was actually managed properly, which i guess is virtually impossible.
