Saw this passage in the paper today: “In his first term, President Obama ran trillion-dollar deficits to jump start a weak economy.” Does anyone think less money would have been spent if the economy had been strong instead? Rather, those in Washington would likely have maintained spending, on the grounds that when the economy is growing the nation can afford to do more for citizens. Over spending is not a weak economy problem, it’s a too much government problem.
January 21, 2013
Government spending
Saw this passage in the paper today: “In his first term, President Obama ran trillion-dollar deficits to jump start a weak economy.” Does anyone think less money would have been spent if the economy had been strong instead? Rather, those in Washington would likely have maintained spending, on the grounds that when the economy is growing the nation can afford to do more for citizens. Over spending is not a weak economy problem, it’s a too much government problem.
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The Fed is stimulating the economy by buying $85 billion in bonds each month. (Let that sink in a bit.)
ReplyDelete$85 Bn/mo = $2.833 Bn/da = $118 Million/hr = $1.97 Mill/second.
However, because of the sequestration, military posts are closing swimming pools for the 4th, training flights are being curtailed. This is obviously so that Obama Rex can fly to Africa (with his entourage) and tell the African people that they shouldn't expect to get big houses, cars, and refrigerators - or the Earth will "boil over".