Posted on 08/24/2009 7:43:41 AM PDT by bs9021
Brookings “Experts” Admit Stimulus a Bust
by: Anthony Kang, August 24, 2009
President Obama has now been in office for over six months and despite his signature $787 billion stimulus, unemployment remains above 9 percent.
“The federal government is the only entity left with the resources to jolt our economy back into life,” Obama said back in February. Touted at the time by Obama an absolute and imperative necessity for America’s ailing economy, the stimulus was heralded the optimum plan to ameliorate rising unemployment, aid small and large business alike, assist struggling local and state governments, and pull America out of the recession.
Proponents of Keynsian economics argue that injecting massive government expenditure into the market leads to extraordinary benefits due to its inevitable “multiplier effect.” Hence came Obama’s urging of Congress to pass the largest government spending bill in world history “without delay” before any review and scrutiny could be possible, only to then sit untouched a few extra days during Obama’s visit to Denver.
The Brookings Institution held a discussion-panel on August 13th assessing the fruition of the stimulus’ promises and future impact on America.
“The good news is the recession is beginning to end, but government’s had nothing to do with it,” Barry Bosworth, a Senior Fellow in the Economics Studies Program at Brookings Institution, began. “Disposable income for households have risen, but that’s been offset by government spending and payments— and people still aren’t spending. The problem is government has not acted fast enough because of the political process, and government hasn’t had anything to do with business investment growth.”
Russ Whitehurst, Senior Fellow and Director of the Brown Center on Education Policy at Brookings, cited the troubles that are attached to federal funding...
(Excerpt) Read more at campusreportonline.net ...
“Experts”? lulz.
Get with the program already ye “experts”....tell us something that most average Americans already know, Captain Obvious.
The ‘stimulous’ (creating a giant pile of money out of nothing) is doing just what its proponents want it to due: levy a giant, hidden tax on all of us called Inflation.
eh, that should be ‘do’, not ‘due’ (freudian slip?).
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