Recovery? They know if they keep telling the lie long enough it will be perceived as the truth.
By rat economics, $10,000 private dollars spent by a future Bill Gates or Steve Jobs is identical to the government giving a $10,000 bonus to a government employee.
It just isn’t so.
LLS
But beyond that, they fully expected that a normal recovery would be in full swing by the spring or summer of 2009. The immediate financial crisis had been contained. By Inauguration Day, the hot issue in Washington was no longer whether money center banks would collapse; it was whether TARP should be hijacked to bail out the UAW pension and health plans. Assuming that a normal recovery would kick in, Team Obama perceived that the window of opportunity for big new spending programs would close. They also perceived a political need for a big, splashy political gesture that would allow them to take credit for a recovery that was already in the works. They were rushing to get ahead of the story.
And so they rushed in, and made things dramatically worse. Shades of FDR indeed.
Well, let’s see: during Reagan’s first term, he had to deal with 15% inflation and a 21% prime lending rate and managed to do that before the end of his first term, all without blaming Carter at every press conference. AND he did this with a Democrat-controlled Congress. Yet here we have Obama still blaming Bush at the end of his first term and no improvement in our economic outlook in sight.
In the book “Left Behind,“ a snake-oil salesman named Carpathian brings the World to ruin.
Dictator Baby-Doc Barack is our Carpathian as he tries to bring America to ruin.