Economists Alberto Alesina and Luigi Zingales:
"Many are concerned about what we can do to help the poor weather this crisis. Unlike during the Great Depression, we have an unemployment subsidy that protects the poor from the most severe consequences of this recession. If we want to further protect them, it is better to extend this unemployment subsidy than to invest in hasty public projects. Furthermore, tax cuts have a much better effect on job creation than highway rehabilitation."
How true, but tax cuts don't increase the size and extent of control by the federal government over the economy and the people, which is the prime motivation of our Dem/Lefty/"Progessive" power structure's every action.
More:
"John Cochrane, a professor at the University of Chicago Booth School of Business, says that among academics over the last 30 years, the idea of fiscal stimulus has been discredited and in graduate courses, it is ‘taught only for its fallacies.’
New York University economist Thomas Sargent agrees: ‘The calculations that I have seen supporting the stimulus package are back-of-the-envelope ones that ignore what we have learned in the last 60 years of macroeconomic research.’"
Of course, that doesn't stop the newly installed economic rocket scientists from screwing things up even more by their support for the unsupportable.
Just think...Obama's been in office all of two days now.
God help us.
Simple but the dumcrats and the republicrats don't understand simple math. Cut taxes, cut spending. The rest will take care of itself.
ReplyDeleteIt won't happen however as long as we have the same old bunch of hogs lined up at the trough. Time for Term Limits. It's simple to do. The states can limit the terms of the Congress and demand that appointment of Senators be reinstated as was intended under the constitution.
I will not be voting for any incumbents in 2010 regardless of the party and regardless of how they have "helped" the region they represent. They represent no one but themselves. Oink, Oink
Ticker, so true.
ReplyDeleteAs long as they get theirs, they don't give a damn about anything else.
Disgusting!