Posted on 11/01/2009 4:29:05 PM PST by blam
At 3.5% Growth, Economy Won't Recover Until President Palin's Second Term
Paul Krugman
Nov. 1, 2009, 11:08 AM
...If we take 3rd quarter growth to be more or less equivalent to average Clinton-era growth, even after 8 years of growth at that rate we’d only expect unemployment to have fallen from the current 9.8% to a still uncomfortably high 6.3%.
It would take us around a decade to reach more or less full employment. As I said in my previous post, that’s well into President Palin’s second term...
[SNIP]
(Excerpt) Read more at businessinsider.com ...
Growth isn’t the only way to “recover”. In fact, growth alone, is harmful. We need growth in the right areas, and steep reductions in spending, again, in the right areas.
Creativity, Conservatism, Common Sense.
It would turn around much faster if Reagan style tax cuts along with program cuts were enacted right in the beginning of her first term.
You need to have Carter before you can have Reagan.
Actually, if President Palin would declare open season on oil/oil shale and gas fields (on- and off-shore), the economy would explode!
Exactly right. And Palin is probably the only strong enough person to see that our resources are tapped.
Will she also be able to repeal Obama death care and restore the ramshackle health care system to its former greatness?
We also need to stack Congress with lots of REAL conservatives to work with her.
Actually, President Palin won’t have to do that. It will prove to be so wildly unpopular that it will have already have been repealed by the GOP-controlled House and still narrowly dem-controlled Senate, which will both vote to override Obozo’s veto, in 2011. A previous “health care reform” in 1986, Dan Rostenkowski and them dem’s Section 89 debacle, made the public furious and was repealed by a still democrat-controlled Congress in 1989 by a vote of 390 to 36.
No one is spending. Most (including me) have stopped all unecessary spending because of the socialist agenda in the White House. Everyone is stashing thier cash/assets to avoid the stupidity of “distribution of wealth”. The consumer is shutting this thing down and rightfully so. This administration is not trusted and thier is nothing that they can do to change that. We just have to wait it out until they are gone.
Yup. But, I did buy a new pocket gun yesterday, a Ruger LCP 380 to take grocery shopping with me.
Presidnet to be Palin would be well advised to start talking about the amount of oil that surrounds this country and how it could change the economy of this country. She really needs to start planting some seeds for growth that are in contrast to the one.
How bout growth in savings and debt repayment.
I don’t know why we don’t have a firm National policy on savings. Although, if we did, they’d just keep exempting and/or lowering it, just like they do with the debt ceiling.
Congress really is the problem, and that’s why we have 2 year terms for them. We need to exercise that option often.
As far as repayment, we’d have to borrow to do it, unless we get creative and take bold market based very Capitalistic steps towards that goal. We could do that. I could 4 or 5 ways to do it. So, why can’t those that we send to DC do it?
Most Americans are completely unaware that we are making payments on our debt by borrowing more money. They’ve been appeased into stupidity by the left. 1+1=2. That will never, even for the left, change.
Perhaps Obama should appoint a savings Czar, lol. He could force you to take manadatory withholding from your paycheck to be put into a government savings program where you earn t-bill rates of interest and help the government to lower the deficit. What a world?
Paul Krugman is incompetent. Its his candidate and his policies that have ruined the economy.
We’d do better if we bought one McDonald’s share each week, and not do anything for 25-30 years. Trust me on this one. hahaha
But McDonald’s is an evil company and they will run afoul of the Cholesterol Czar. And they are not a green company. Look at all the garbage they produce.
“But McDonald’s is an evil company and they will run afoul of the Cholesterol Czar. And they are not a green company. Look at all the garbage they produce.”
Oh, they’ve been VERY “green” for me. :O)
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