Needs of the Many

Bring Your Lies & Half-Truths … I Will Destroy Them

Nobel Prize Economists Tell Obama He’s Wrong On Stimulus Plan

Posted by Casey on January 30, 2009

This is common sense stuff, but the masses seem so ignorant about history that they are willing to let this thing do its damage. We’ve tried these stimulus packages before … they failed. Japan has tried them before … they failed. Europe has tried them … they also failed. Stimulus packages like this have never worked, and never will work.
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200 top economic minds signed a national ad published in The New York Times and the Wall Street Journal against the trillion dollar spending binge proposed by democrats. The ad, sponsored by the Cato Institute, blasts the massive boondoggle that funds liberal projects under the guise of “stimulating” the economy.

“There is no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy.”

President-Elect Barack Obama
January 9, 2009
With all due respect Mr. President, that is not true. Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan’s “lost decade” in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today.

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