I agree, I just didn't feel like your last post was fair because it only talked about one side of the sword
Not so fast, my friend: http://www.theaustralian.news.com.au/business/story/0,28124,25212624-643,00.html
Spending an enormous amount of money doesn't guarantee that the economy will be stimulated. Claiming that the money is all targeted for infrastructure when much of it is funding slated for partisan agenda also doesn't set well with me. I'll give the program a little time but still have reservations about its chances and intent. If it fails though, it will be on this administration's shoulders. Claiming all positives as a success for the adminstration and all negatives on the previous administration needs to stop.
When was the last time you checked m3 , the money supply? Tax rebates and refunds did work, the govt spending did not. You can't cut rebates/refunds without cutting spending.
That chart doesn't prove this. Of course you can. Cutting rebates/refunds frees up income to pay for spending. What you can't do (if you're being responsible) is to cut income (taxes) while increasing spending.
Of course they did but that was considered wasteful spending while this administration's spending is called a stimulus. Maybe it should be call a spinulus. :hihi:
