Obama Destroys Economy with Socialism

[ksen]

He was? I wasn't aware that he signed the 2007-2009 budgets into law.

Then the Republicans won the house, we got the economy killing government shutdown, sequester, etc.

It's weird how the economy didn't get better when the spending was increased and now is getting better when it didn't. It's almost as if the Keynesian religion is wrong.

For the record, here are the Federal spending numbers:


2007 2,728,686
2008 2,982,544
2009 3,517,677
2010 3,457,079
2011 3,603,059
2012 3,537,127
2013 3,454,605

http://www.whitehouse.gov/omb/budget/Historicals/

How is Keynesianism almost wrong since we've been at elevated spending levels since 2009?

We've had elevated spending levels and tax cuts since the Great Recession which sounds exactly like a Keynesian prescription.

Tax cuts? What tax cuts?

You don't remember getting a stimulus check?

But anyway just to be clear your position is the reason the economy is doing so great now is that we had a big increase in spending in 2009?

We didn't have "a" big increase in just 2009. The initial increase happened in 2009 and that level has been pretty much maintained through to today. So we've had about 5 years of increased government spending.

And that current spending levels are "elevated"?

Since the economy is so great now, should we be cutting the spending back to non-elevated levels?

One quarter of good growth while good news doesn't mean we're back on track from the Great Recession. I'd say that once the economy shows signs that it is in full recovery and we're out of the liquidity trap then it would be time to start talking about reducing government spending. Once private sector spending is strong again then we can talk about removing some government spending from the economy.

 

[dismal]

You don't remember getting a stimulus check?

The Bush stimulus check of mid 2008 is your best example of a Keynesian "tax cut" that helped save the economy? Really?

One quarter of good growth while good news doesn't mean we're back on track from the Great Recession. I'd say that once the economy shows signs that it is in full recovery and we're out of the liquidity trap then it would be time to start talking about reducing government spending. Once private sector spending is strong again then we can talk about removing some government spending from the economy.

Ignoring for the moment that we have been reducing government spending for years now...

 

[Davka]

Gosh, if only there were a real-world example! Like, if during the Great Recession, Progressives in America fought hard for a Keynsian stimulus response and got part of what they needed, while the E.U. opted for stimulus - then we could look at their respective economies and see which one was recovering from the recession and which was not.

 

[Jason Harvestdancer]

Interesting. It seemed what worked under Clinton worked under Obama - Democrat Executive AND Republican Legislature.

 

[ksen]

Clinton had the benefit of having a republican legislature that would work with him more than Obama has had . . . but Clinton was white so . . .

 

[Jason Harvestdancer]

so . . . he was often called "our first Black president" until Obama was elected.

It seems your memory of how much those Republicans "hated" Clinton has faded.

 

[Ford]

Gosh, if only there were a real-world example! Like, if during the Great Recession, Progressives in America fought hard for a Keynsian stimulus response and got part of what they needed, while the E.U. opted for stimulus - then we could look at their respective economies and see which one was recovering from the recession and which was not.

We totally should have tried austerity. Countries like Greece and Spain are totally kicking ass right now due to their austerity measures, while America (under fascism) languishes with consecutive quarters of lackluster "growth."

 

[Harry Bosch]

We totally should have tried austerity. Countries like Greece and Spain are totally kicking ass right now due to their austerity measures, while America (under fascism) languishes with consecutive quarters of lackluster "growth."

Damn that's funny!!!

 

[dismal]

We totally should have tried austerity. Countries like Greece and Spain are totally kicking ass right now due to their austerity measures, while America (under fascism) languishes with consecutive quarters of lackluster "growth."

Damn that's funny!!!

Yeah, it's funny to see someone so besotted by ideology that they think the economic problems in Greece and Spain are a result of "austerity".

It reminds me of the old joke:

Two Keynesians walk into a bar.
The first says: "I can't understand why is the US recovery accelerating in 2013 and 2014 despite the reduction in government spending."
The second answers: ZMFOG GREECE!!11!!!

 

[Nice Squirrel]

Damn that's funny!!!

Yeah, it's funny to see someone so besotted by ideology that they think the economic problems in Greece and Spain are a result of "austerity".

It reminds me of the old joke:

Two Keynesians walk into a bar.
The first says: "I can't understand why is the US recovery accelerating in 2013 and 2014 despite the reduction in government spending."
The second answers: ZMFOG GREECE!!11!!!

Poe's law.

 

[Ford]

Damn that's funny!!!

Yeah, it's funny to see someone so besotted by ideology that they think the economic problems in Greece and Spain are a result of "austerity"

It is sad to see someone so besotted by a reading comprehension problem.

 

[Harry Bosch]

Yeah, it's funny to see someone so besotted by ideology that they think the economic problems in Greece and Spain are a result of "austerity". It reminds me of the old joke: Two Keynesians walk into a bar. The first says: "I can't understand why is the US recovery accelerating in 2013 and 2014 despite the reduction in government spending." The second answers: ZMFOG GREECE!!11!!!

Dude! Pls reread Fords post! He's being sarcastic.

 

[dismal]

Yeah, it's funny to see someone so besotted by ideology that they think the economic problems in Greece and Spain are a result of "austerity". It reminds me of the old joke: Two Keynesians walk into a bar. The first says: "I can't understand why is the US recovery accelerating in 2013 and 2014 despite the reduction in government spending." The second answers: ZMFOG GREECE!!11!!!

Dude! Pls reread Fords post! He's being sarcastic.

Yeah, I got that. Moreover, my post reflects the fact I got that.