Keynesian Economics a Bust: Stimulus Won't Work
Friday, October 2, 2009 at 11:14AM See this post: The Stimulus Didn't Work
The post was just the Wall Street Journal. Now we have Gateway Pundit: Confirmed: Stimulus Spending Didn't Work-- Keynesian Economics a Bust.
So, the WSJ has two articles on this topic. One I mentioned above, The Stimulus Didn't Work and now the article Gateway has, Stimulus Spending Doesn't Work. In either article it is explained that the Generational Rape Act of 2009 is a huge error on the parts of the community organizer of the world, Barack Hussein Obama, who more than likely never read the Bill.
[...] The bottom line is this: The available empirical evidence does not support the idea that spending multipliers typically exceed one, and thus spending stimulus programs will likely raise GDP by less than the increase in government spending. Defense-spending multipliers exceeding one likely apply only at very high unemployment rates, and nondefense multipliers are probably smaller. However, there is empirical support for the proposition that tax rate reductions will increase real GDP. [...]
Tax rate REDUCTIONS is what we need and NOT tax rate INCREASES. It's an historical fact. Get over it and LOWER taxes...which means we DEFEAT Obamacare.
YA GOT THAT?
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Reader Comments (1)
I went to a nearby chemical plant owned by a customer of mine to look at some equipment he has for sale. They make a base polymer used for construction adhesives, dust control, and oil/gas well completion gels. They have two other plants in the U.S.
The first half of the year they had no business at all, but being private with no stockholders to please, they did not close any facility. For the last month they have been balls to the walls at all locations and have enough orders to complete through the end of this year to remain that busy.
All of the orders are coming from South Korea and Europe. Nothing from the U.S.