Neither of them "invested" anything in anything. Bush took and Obama takes resources from the real economy to squander on political patronage and vote buying.
If congress and the president want to stimulate the economy they should stop taking a quarter of it to play politics with. The fastest way to get a few trillion dollars where it will do the most good is leave it with the people who earned it.
And have them do what with it? Spend it on gas guzzlers, houses worth 10X more than their take-home income, and so on? How'd that work out the last 10 years? I am normally all for people keeping their money and doing with it as they please, but I have little faith left after said people have screwed up the environment, created a housing market collapse and led us into this recession.
nah, in the past when people got a check in the mail from the government they mostly spent it on paying down credit card or tuition debt so the effect on the economy was rather negligible
The people got a check from the government once, as far as I remember, in 2008, at which point the economy was already sliding into abyss and nobody spent it, which is what the Bush administration thought they would do. Were there other rebates where this pattern of behavior was observed?
My reading of the original comment was that the government needs to cut taxes and let people keep more of their money. Which generally I am all for, but after the 2003 tax cuts, all we got was people spending like crazy on things they couldn't afford, even with more money in their paychecks, and voila, recession.
I drive a Chevy Metro and I rent. Regardless, if people want to spend their money on big cars and houses they can't afford, guess what, it's their money and they can do what they want with it. People spending their own money did not cause the situation we are in. Federal monetary policy and tax and banking laws that directed people toward mortgage debt and investors toward mortgage backed securities (mostly through 401-Ks) all but guaranteed we'd be where we are now.
Yes, all those things did cause the problem we're in, but to say the consumer had no role in this isn't correct either. You can't steer someone toward debt if they are willing to be smart about it. As much as there was plenty of deceptive practice, there was plenty of consumer stupidity to help it along.
Actually, I was taking exception to the notion that government spending of any kind represents an investment. It represents a net loss and an opportunity cost to the productive economy. The fact that these "investments" are funded by force is just the icing on the cake.
no subject
Date: 2009-07-07 07:25 pm (UTC)no subject
Date: 2009-07-07 07:27 pm (UTC)no subject
Date: 2009-07-07 07:45 pm (UTC)no subject
Date: 2009-07-07 07:46 pm (UTC)no subject
Date: 2009-07-07 07:59 pm (UTC)Not in this community there aren't.
:makes eyes:
no subject
Date: 2009-07-07 08:06 pm (UTC)pphhbbpphhht.
kkkkkkPHWWWWAAAAAAAAAAAHHHH HAH AH AHH HAHHAHAAHHA
no subject
Date: 2009-07-07 11:22 pm (UTC)no subject
Date: 2009-07-07 08:26 pm (UTC)She blinded me with science!!
no subject
Date: 2009-07-07 09:30 pm (UTC)no subject
Date: 2009-07-09 04:08 pm (UTC)no subject
Date: 2009-07-07 07:46 pm (UTC)no subject
Date: 2009-07-07 09:31 pm (UTC)no subject
Date: 2009-07-07 09:27 pm (UTC)to the bacon room!
no subject
Date: 2009-07-07 08:21 pm (UTC)If congress and the president want to stimulate the economy they should stop taking a quarter of it to play politics with. The fastest way to get a few trillion dollars where it will do the most good is leave it with the people who earned it.
no subject
Date: 2009-07-07 08:25 pm (UTC)no subject
Date: 2009-07-07 08:49 pm (UTC)no subject
Date: 2009-07-07 09:26 pm (UTC)no subject
Date: 2009-07-07 09:30 pm (UTC)My reading of the original comment was that the government needs to cut taxes and let people keep more of their money. Which generally I am all for, but after the 2003 tax cuts, all we got was people spending like crazy on things they couldn't afford, even with more money in their paychecks, and voila, recession.
short memory?
Date: 2009-07-07 11:36 pm (UTC)no subject
Date: 2009-07-07 11:33 pm (UTC)no subject
Date: 2009-07-07 11:45 pm (UTC)no subject
Date: 2009-07-07 11:25 pm (UTC)no subject
Date: 2009-07-08 12:12 am (UTC)no subject
Date: 2009-07-07 10:48 pm (UTC)no subject
Date: 2009-07-07 11:37 pm (UTC)no subject
Date: 2009-07-08 01:07 am (UTC)no subject
Date: 2009-07-08 05:40 am (UTC)