The View From 1776

Robbing Peter To Pay Paul

Obama’s stimulus programs have imposed a negative drag on the economy, a drag that will intensify in 2011.

Posted by .(JavaScript must be enabled to view this email address) on 02/13 at 03:45 PM
  1. Isn't "negative drag" redundant?

    Evan as the stimulus program is beginning to produce results are you still holding to the line that we should not have bailed out the economy, and just let it free fall into a depression?
    Posted by .(JavaScript must be enabled to view this email address)  on  02/13  at  07:51 PM
  2. Yes, thanks for correcting my English.

    Yes, I hold to the view that Obama's stimulus program has retarded recovery.

    The economy is more likely to have plunged into a Depression (if you mean of 1930s proportions) because of government dirigisme, threats of higher taxes, efforts to take control of the economy's sources of energy, accompanied by continual attacks upon business and banks.

    The 1930s Depression, in which Hoover and FDR pursued much the same policies as Obama, was unprecedented in American history. Never before then had the Federal government presumed to manage the entire economy, while nationalizing industry and agriculture. Before 1/929, the economy recovered without interference from the Federal government. Such was the case in 1920, the last recession before the advent of the Federal Reserve, a recession initially as deep as what became the Depression. Yet it was over within less than two years.
    Posted by .(JavaScript must be enabled to view this email address)  on  02/13  at  10:43 PM
  3. Hoover, the Republican, made feeble attempts to stimulate spending, but then reneged on them, resulting in stagnation and continued depression until the late 30s.

    I think even you would agree that only the Government spending on WWII was sufficient to get us out of the grip of the Great Depression.
    Posted by .(JavaScript must be enabled to view this email address)  on  02/14  at  05:42 PM
  4. Here is a short video that illustrates clearly how the Obama Recovery Act has turned around the direction of the economy:

    http://www.barackobama.com/recovery/video.php
    Posted by .(JavaScript must be enabled to view this email address)  on  02/19  at  11:41 AM
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