“Economists Weren't Predicting a Depression”
Ken Sweeney ·
Jun 21, 2011 at 12:54pm
"We had to hit the ground running and do everything we could to prevent a second Great Depression," Obama told supporters last week.
Investors Business Daily begs to differ. Economists didn’t predict a new “depression” in their forecasts of recovery.
“…the Congressional Budget Office predicted that, absent any stimulus, the recession would end in "the second half of 2009." The recession officially ended in June 2009, suggesting that the stimulus did not have anything to do with it.”
This graph demonstrates that the stimulus had little to no affect on GDP growth rates. Basically, Obama flushed money down the money hole, and flooded money to state government worker unions as payback for support of the Democratic Party.
Obama made it worse.
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Comments :
Aug '10
Re: “Economists Weren't Predicting a Depression”
Excellent post.
Here's a link to the original IBD article, just in case anybody wants to 'share' it on Facebook or forward it to their friends:
http://tinyurl.com/3z9cynv
Oct '10
Re: “Economists Weren't Predicting a Depression”
Misthiocracy: Excellent post.
Here's a link to the original IBD article, just in case anybody wants to 'share' it on Facebook or forward it to their friends:
http://tinyurl.com/3z9cynv · Jun 21 at 10:37am
Thanks for the reminder of the link--I forgot to add it in the original post.
I found that article from Biggovernment.com, one of Mr. Andrew Breitbarts great web sites. I wonder if other Ricochet folks frequent BigGovernment, BigHollywood, BigJournalism, and BigPease.
Dec '10
Re: “Economists Weren't Predicting a Depression”
Just in case anyone else finds satire an effective antidote to hopelessness, here is one of my favorite tropes from the Onion.....The Money Hole.
Enjoy
Aug '10
Re: “Economists Weren't Predicting a Depression”
The National Money Hole is no laughing matter. It's about jobs. What do you have against jobs?
It takes thousands of hard-working federal employees to dig the Money Hole, to drive the trucks which deliver all the currency to the Money Hole, to print the money that will eventually go into the Money Hole, and to monitor the Money Hole to ensure that the toxic inks in the currency do not find their way into the New Mexico groundwater.
If the US Government was to close the Money Hole down, what would happen to all those employees?
You monster.
Dec '10
Re: “Economists Weren't Predicting a Depression”
I at least skim all of the Big sites, but often find the most interesting and more obscure items on Big Peace. I especially find John Xenakis' morning headlines fascinating.
Apr '11
Re: “Economists Weren't Predicting a Depression”
And in other surprising news, the Sun will rise in the east tomorrow.
Dec '10
Re: “Economists Weren't Predicting a Depression”
Wasn't the stimulus plus not passing a budget for a couple of years just a way to reset the baseline with deficits over $1,000,000,000,000 cemented into it?
Dec '10
Re: “Economists Weren't Predicting a Depression”
Unexpected!
Oct '10
Re: “Economists Weren't Predicting a Depression”
While some of us "...get bitter, [and] cling to guns or religion..." others cling to their Cult of Keynsian Economics.
Mar '11
Re: “Economists Weren't Predicting a Depression”
What evidence do we have that Obama is "intelligent"? I hear people say they support the President, he is intelligent and then go on to say why they disagree with him. It's as if one has to say that Obama is intelligent so one's criticism will have some merit. I would like some evidence of his intelligence because from my vantage point I'm not seeing it. I think Obama fits Einstein's definition of insanity better vis a vis his insistence on increasing spending with no improvement in the economy.
Oct '10
Re: “Economists Weren't Predicting a Depression”
Misthiocracy
The National Money Hole is no laughing matter. It's about jobs. What do you have against jobs?
It takes thousands of hard-working federal employees to dig the Money Hole, to drive the trucks which deliver all the currency to the Money Hole, to print the money that will eventually go into the Money Hole, and to monitor the Money Hole to ensure that the toxic inks in the currency do not find their way into the New Mexico groundwater.
If the US Government was to close the Money Hole down, what would happen to all those employees?
You monster. · Jun 21 at 12:34pm
The Money Hole is a national treasure. Thousands of families from all across this great country, from sea to shining sea, visit the money hole and take pictures for slide shows to annoy their neighbors. The money hole is what makes this country great!
Aug '10
Re: “Economists Weren't Predicting a Depression”
You are correct. There is no evidence that Obama is intelligent. There is a total absence of originality in his thinking. All he does is regurgitate an indoctrination. The mythical Obama intelligence is an artificial, manufactured narrative that owes its survival to political correctness, and political correctness alone.
All I see is evidence of how Affirmative Action and political correctness produce substandard results. That, and how the Left has achieved victories though intimidation.