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Federal Spending: Killing the Economy With Government Stimulus
Forbes ^ | Aug 6, 2012 | Doug Bandow

Posted on 08/07/2012 8:52:18 PM PDT by Innovative

President Barack Obama's presidency hangs in the balance after another disappointing employment report. He continues to advocate new government "stimulus" programs to boost his reelection campaign. However, Washington is awash in government "stimulus," without effect. Only productive private investment will spark economic revival.

If government could spend America to prosperity, good times would have arrived long ago.

Yet President Obama won't stop.

...In fact, UCLA economists Harold L. Cole and Lee E. Ohanian blamed the New Deal for prolonging the Great Depression by seven years. ...

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Editorial; Government; Politics/Elections
KEYWORDS: economy; elections; obama; stimulus

1 posted on 08/07/2012 8:52:29 PM PDT by Innovative
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To: Innovative
I forgot who I got this from but somewhere I read that the way to look at government and GDP is that if you give a dollar to an entrepeneur it results in $1.05 of economic activity and if you give that same dollar to a government bureaucrat that results in $.60 of economic activity.

I am sure if varies between programs but the basic notion is that the more capital (percentage wise) you funnel into government, the lower the GDP.
2 posted on 08/07/2012 9:14:42 PM PDT by microgood
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To: Innovative

There is a perfect storm decimating the American economy. The Obama administration with its rules ,regulations, high taxes and bizarre war on carbon energy sources is strangulating the productive capitalism that generates the wealth and jobs that create American prosperity.That wealth also makes social justice possible. Also the financial gurus with their printing, borrowing, and a myriad of silly financial gimmicks are squandering huge amounts of capital, creating unsustainable debt and are impoverishing future generations. Bernacke and Geithner will be severely judged by history as the most catastrophic policy makers ever to hold high public office.


3 posted on 08/07/2012 9:19:36 PM PDT by allendale
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To: Innovative
Here are 56 reasons why Barack Obama is a lying, lawbreaking, warmongering, corrupt cronyist, who loves corporate lobbyists and Wall St., and who has no respect for the Constitution, limited government, rule of law, individual freedom, civil liberties, the taxpayers, or sick people who have prescriptions for medical marijuana
4 posted on 08/07/2012 9:51:12 PM PDT by grundle
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To: grundle

Yeah, that may all be true, but there are some on this forum who post the same thing over and over and over and over and over and over and over and over who tell us Romney is just as bad. The religious bigots here are out in force and would say Romney is worse.

Given four years in which he won’t have to run for re-election, Barack Hussein Obama is going to finish the destruction of the nation he has always hated.


5 posted on 08/07/2012 11:56:15 PM PDT by doug from upland (Just in case, it has been reserved: www.TheBitchIsBack2012.com)
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To: Innovative

October 22, 2009, Mark Zandi, Chief Economist Moody’s Analytics “First, I think the fiscal stimulus, the recovery package, is working”


6 posted on 08/08/2012 3:15:26 AM PDT by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
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To: Innovative

November 2, 2009 JARED BERNSTEIN “So there’s lots of good evidence that the act is working, and that shouldn’t be a surprise to any one who has a drop of Keynesian blood in them.”


7 posted on 08/08/2012 3:15:56 AM PDT by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
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