Monday, February 09, 2009

Just a bit more

President Obama continues to push this mistaken idea that nearly all economists agree with the need for an economic stimulus and that disagreements with it are small minded.

On a related note, a commenter on Megan McArdle's blog from earlier today makes the Obama argument in more colorful language.

No - let's let the ill informed run things, that's an even better idea. I mean what's the worst that could happen?

Oh yeah right, we already tried that. I was raised to be ashamed of my ignorance and to constantly strive to do something about it. Clearly others were not.

If anybody has a rational argument to make as to why this stimulus is a bad idea, they should made it. Whining because a nobel prize winner in economics doesn't support your zombie like chant of "tax cuts" in the face of any and all problems doesn't cut it. At some point you're going to have to come to grips with the facts that

1. We tried your ideas and they've been disproven. REPEATEDLY

2. We had an election where we quite loudly proclaimed we wanted to try SOMETHING ELSE.

So yeah if you have a viable alternative to a spending bill that doesn't involve shoving tax cuts for the rich down our throats let us have it. Otherwise, STFU and let the grownups try and clean up your mess.

Insert obligatory libertarian line about the last eight years not being our ideas here.


Anonymous rose said...

"1. We tried your ideas and they've been disproven. REPEATEDLY"

"Insert obligatory libertarian line about the last eight years not being our ideas here."

Google "unemployment and stimulus brian wesbury" and you should find parts I and II of this economists observations about government spending and employment.

He demonstrates that there is absolutely zero historical precedent for increased government spending creating jobs.

Additionally, government spending as a % of GDP declined rapidly from 1982 until about 2001. It declined most rapidly during Clinton's years.

1982-2001 was probably the greatest two decades of growth in world history. There was a reason that Bill Clinton said in 1996 "The era of big government is over".

So in order to believe that small government ideas have been disproven, your understanding of the Clinton and Bush presidencies has to be limited to the (R) or (D) sitting next to their name.

(BTW, not intended to be a total indictment on Bush, or praising of Clinton. Congress clearly has tons of influence over spending outcomes)

11:53 AM  

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