Robert Reich wrote an op-ed for The Wall Street Journal explaining why we need more of Obama’s big spending to get our economy going.
Here’s where he lost me.
To see the big picture you need to keep your eye on three big things. The first is the extent of government spending needed to offset the continued reluctance of consumers and businesses to spend.
He went on to say you don’t have to be a Keynesian to understand something or other. I say “something or other” because he lost me at the sentence in bold. This is what Keynesian’s don’t get: Consumers and businesses are reluctant to spend because of the extent of government spending!
It really is that simple. I am both a consumer, and along with my husband, a small business owner. Guess what? We are terrified at the spending of the federal government. As long as the “smart people” in Washington, DC keep spending money, we “the stupid ones” are going to continue cutting back. Just this evening Mr. LC and I discussed how we can trim our household budget in preparation for weathering the storm this president and his party are unleashing on the economy.
We certainly aren’t about to gamble away our future on promises of utopia, no matter how they try to spin it. The more they spend, the less we spend. Get used to it.
Or Mr. Reich could read the op-ed from the editors who were gracious enough to print his op-ed. Obama’s tried reckless spending for over a year now and it hasn’t worked. Maybe it’s time he tries something different.
Heh…..I thought that said ‘Kenyans’.
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Taken from Obama’s speech to his fellow democrats.
And herein lies the problem with the progressive viewpoint of our nation and our economy.
Its not a crisis. Its a recession. It happens when we use credit to purchase goods and services. Eventually you have to pay back what you borrow.
So we can go back to what we did before……WHICH ALWAYS WORKED…or we can try something new.
Okay.
What is it were trying new? Different? Other then spending the nation into bankruptcy. Expanding the size of the federal government. Thinking that a 3 trillion dollar government can provide salvation to a 100 trillion dollar economy??
The progressives are whack jobs when it comes to the economy. Our last progressive president folks….in case you all are too young to remember had…….17 percent interest rates….very high unemployment and roaring inflation.
He gave colorful speeches full of hope and change…..after a couple years of him in office he had to give a speech telling the American people to not be so depressed. Eventually his own party ignored him and began passing legislation that they felt was needed.
Thats what progressives in the White House get you as a nation. Jimmy Carter was a swell guy…..so is Barak Obama……..however he is clueless and so are the idelogues he has surrounded himself with. People who have NOT made payroll. People who have fed off the Federal TIT for their entire lives….people who think the government can solve everything.
It CANT. Period.
Period.
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Very well said by “Doomed”. I will elaborate that Mr. Carter also prompted credit card issuers like “Master Card” which were relatively new, to run TV commercials asking people to be responsible using their credit card, when it was government’s fault that got us in the mess in the first place. Several of my friends lost homes when their adjustable rate mortgages went up to twenty percent. Inflation and interest rates were so bad that the “deal” buying property was on land contract where the federal cap was eleven percent. We had a “misery index” that was on the nightly news. Jimmy Carter’s presidency was a train wreck, but we got through it, and we’ll get through this one even though the effects will probably be much longer lasting. But the thing that Carter did that riles me to this day was to impose gas rationing and a fifty five mile per hour national speed limit because we didn’t have enough energy production here. We had to live, suffer and pay for that one for fifteen years and we still haven’t learned that lesson and will pay again if there is a major interruption of our imports coming from the very people that hate us.
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…”the continued reluctance of consumers and businesses to spend” is because many of us–although not Harvard educated–understand that you cannot consume more than you produce. Pretty simple. Sesame Street simple.
These are folks who just don’t want A to be A. We were much better off when we did not have professional politicians but instead actual businessmen who decided to “serve” for a few years. Sigh. Eyes on November.
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[...] a deficit purely the result of both Democrats and Republicans. We as a nation shoud vow that keynesians should never be given power [...]
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