Our president is touting his success at the “economic recovery” we are experiencing. Couple problems with that. It’s really unfortunate that people have become so disconnected with reality and with evidence and totally unable to do their due diligence in fact checking; heaven knows the media certainly won’t do it for us.
First, we have experienced 10 post-World War II recessions in this country. We have recovered from all of them, without the help of mega stimulus infusions. In fact, the bigger the bust, the bigger the boom (and vice versa). Economies continually cycle between boom and bust, thanks to the Keynesian model we’re operating under (“we’re all Keynesians now..”). And for every down, there is an up. That’s just what they do. The most vigorous recoveries have taken place under presidents, whether Democrat or Republican, who recognized the formula for economic health is NOT more government intervention.
Quiz: What president said: “It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the rates now…The purpose of cutting taxes now is not to incur a budget deficit, but to achive the more prosperous, expanding economy which can bring a budget surplus.” (a) Ronald Reagan (b) Bill Clinton (c) John F. Kennedy (d) George W. Bush
Why can’t politicians in Washington learn anything from this? At no time has a recession anywhere near the magnitude of the recent one been followed by as anemic a “recovery” period. That is due to government policy. Current policies are hindering our recovery, not to be credited for it. Our President tells Congress not to “muck it up”; the best way they could do that is refuse to sign any more of his bad checks. Nothing could be worse for an economy than the current debt/deficit/big government spending model – again, don’t take my word for it, look at Japan.
After WWII it enjoyed an exemplary thriving economy. In response to the slump of the 1980’s, they started applying a prescription of debt-financed binge spending and government “stimulus” – for two decades? Hello??? Today their debt equals 200%+ of GDP and their low-to-no growth economy continues to stagnate. Recovery? I don’t think so. More like government-induced chronic disability. Look and learn, please, Washington!!! Politicians keep claiming, well, it hasn’t worked well enough BECAUSE we haven’t spent quite enough money. Before you keep spending my great-great-granchildren’s inheritance, I want some proof. Show me one – just one instance, where an economy boomed with such an unsustainable, not to mention “irresponsible and unpatriotic” (thank you, President Obama for that characterization) financial prescription? I’ll show you plenty where the opposite tack WORKED.
Second problem is employment statistics. I can’t get excited about an unemployment level that has stayed above 8% for all three years of our current administration. The only “progress” they cite is due, which the media neglects to tell us, to creative statistical manipulation deriving from the fact that over 3 million people have been dropped from their inclusion and been added to the long term unemployed, translated, they have given up looking for work.
Wake up, America. We have got to get informed and refuse to be manipulated and “bamboozled”. As Lord Keynes himself admitted, it is much more difficult to “unbamboozle” once the deed is done.
(Oh, the answer to the quiz? c.)
notthenetwork10 