Joe Biden was unleashed on Meet the Press today and if his comments were cleared by BHO we won't know until later, but Joe says the administration got the stimulus package wrong! Well, it's not their fault, the economy was worse than they originally thought.
Eh, excuse me, did you really think this was going to work?
Did you learn nothing from history?
In 1920, a full nine years before the "great depression," the US suffered it's greatest monetary collapse in history. Bigger than the crash of '29, this crash was the worse ever seen by this country or any other. What? You never heard of it? This is the first you were told of this? Well children, do some research and look it up. It was bigger than the collapse of '29 but what happened? What did the government do to save this great country?
The government did nothing. Not one dime of Federal money was spent to help Wall Street. Not one dime was pumped into private business. Not one dime was given to anyone to help them through this crisis. What happened? Within a year the economy improved, the weaker businesses were gone and the strong survived. Within a year, the economy was back on track, all WITHOUT A GOVERNMENT BAILOUT!
Contrast that to '29 when the government and FDR pumped money into the economy, created work programs and started entitlement programs out the ying yang. What a difference. Most scholars (most recently the liberal USC school of business) say that the programs instituted by FDR prolonged the "great depression" for 13 years. It wasn't until 1941 when the US entered into WWII that the economy came back.
So is it any real surprise that this stimulus isn't working? The government now owns banks and savings and loans, it owns insurance companies and it owns GM. What's next? MORE stimulus? "We didn't know the economy was as bad as it is." Why didn't you? After all, it was clowns like Barney Frank and Chris Dodd who helped cause this mess in the first place.
It's time to get back to the basics. Time to do what Reagan showed us. Lower taxes, letting people keep what they earn yields record and long lasting economic recovery and long term prosperity. GOVERNMENT IS NOT THE SOLUTION TO THE PROBLEM, GOVERNMENT IS THE PROBLEM. What is so hard to learn about that?
The cracks in the armor are starting to show.
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