In a way, but the two approaches to economics began as and remain policy choices that can be measured. It is because of the demonstrated outcomes of supply side economics that it has become part of the "philosophy" of conservatives (not to mention the myth of Reagan), which is sort of like taking a sewing machine and making it part of your "philosophy." It's a bit nonsensical. The question should not be one of philosophy, but rather, which tool is the most effective for the economy at this time. I don't know of a Liberal who has Keynes as a part of their "philosophy." I do know many who think that given a choice between the two, siding with Keynes over Friedman is the way to go in a situation like we currently have because of those demonstrated results.
help me out on where you get that 3% number. i am just glancing at the bill and i get close to 18%. 90+58/825=17.9%
Keep trying. As you know, $550b is new spending. Of that... Breaking it down as I did above, the real infrastructure figure is at least 30% of the $550b and obviously significantly more of the total than you suggest.
No, this means that when a group or ideology has led you to a position of such incredible debt that you try another approach and stop listening to the crew that sunk the ship.
well isn't the real problem wasteful spending and not ideology? this bill seems to be packed with a lot of wasteful spending...am i wrong?
Yup, the plan for fixing the problem caused by excessive spending and credit is to borrow and spend even more Like it or not, we are locked into this no matter what.
I am not sure if what Obama plan to do would fix the problem, but I do know what Hover did totally killed the economy for years during the great depression.
he killed the economy thru excessive taxation not thru inaction if that is what you are implying. edited...left out a word
I think the problem is timing. You should (in theory) cut taxes and spend your way out of a recession. Republicans have (for the most part) cut taxes and increased spending regardless of the economic situation. Furthermore, wasteful spending is relative. Tax cuts for the super wealthy, unnessecary wars, et. al. are far more wasteful than programs that actually *gasp* reward the citizenry, imho.
By the way, I can tell this whole Obama thing has you down. You would never let something so sig worthy slip by before. It really is sad to see you in such a state. Hang in there buddy... in another 16-24 years, most people may have forgotten what Bush and his ilk did to this country.
rimrocker, I've been meaning to say that you were right about TARP. I was wrong. That bill should never have seen daylight. I sit in humble remorse at doubting you!
Thanks. The bill and the process sucked. I was wrong however, when I said the Bush administration would ask for the second tranche and spend it before Obama took office. I owe an apology on that one to Major and Sam.
By the way, who does Rush support for RNC Party Chair? He needs to get on the radio and let his opinion be known stat!
Ha! The RNC Chair vote is headed towards a 6th ballot with the competition between a guy who can best be described as Keyes-lite and another guy who joined the Republican Party because he was forced to go to grade school with blacks. How can the party go wrong with either of these guys? One will use the post to sell himself out to as many TV appearances as he can cram into his day and the other will help continue the path towards a regional party. Change is in the air my Republican friends, change is in the air.
Michael Steele wins on the umpteenth ballot. Whitey giving another black man a lousy job. First President, now RNC Chair. What's next? CEO of GM?
Good one. Seriously though, I can now look forward to an infinite number of 5 minute blocks of Steele on Hardball.
