Tuesday, February 10, 2009

Permanent Democratic patronage system

Obama may say he “inherited” a huge deficit, but how doubling or tripling it make everything better? The "Stimulus" is just an Obama plan to fund permanent Democratic patronage system.

Alan Reynolds reported Many may believe we're in the worst recession since the Great Depression, if only because politicians and the press keep repeating that claim. But we need to compare some facts to discern whether this recession is (or will be) "worse" in some sense than those of 1973-75 or 1981-82. Congressional Budget Office Director Douglas Elmendorf told the House Budget Committee that if the economy is still contracting by mid-year, then this recession will be longer than the 1981-82 and 1973-75 downturns, each of which lasted 16 months. Yet this recession was quite mild until last September. And the severity and human discomfort of downturns can't be measured by their duration.

JammieWearingFool has comparisons with the past two recessions, and notes U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs. Here are 50 De-Stimulating Facts about the bill.

1 comment:

Anonymous said...

Obama did inherit a real gigantic mess and it might take another gigantic mess to fix it. What else can he do? The Bushmen were oil men and what did they do for me? They raised my gas prices and since Bush is out of office now, the gas prices went down....I thought it was comical when Bush got shoes thrown at him when he went on his "last trip". If you ask me Bush did a number on us - too many Bushes in the White House - never again ol Jeb will have to move over and stay wherever he is hiding....ANON