Bold Colors Blog

Stickin’ it to the libs, one day at a time

Posts Tagged ‘Capitalism’

Bipartisan stimulus

Posted by Liberty on January 29, 2009

Rush has a great op-ed in today’s Wall Street Journal!

My Bipartisan Stimulus

“Keynesian economists believe government spending on ‘shovel-ready’ infrastructure projects — schools, roads, bridges — is the best way to stimulate our staggering economy. Supply-side economists make an equally persuasive case that tax cuts are the surest and quickest way to create permanent jobs and cause an economy to rebound. That happened under JFK, Ronald Reagan and George W. Bush. We know that when tax rates are cut in a recession, it brings an economy back.

Recent polling indicates that the American people are in favor of both approaches.

Notwithstanding the media blitz in support of the Obama stimulus plan, most Americans, according to a new Rasmussen poll, are skeptical. Rasmussen finds that 59% fear that Congress and the president will increase government spending too much. Only 17% worry they will cut taxes too much. Since the American people are not certain that the Obama stimulus plan is the way to go, it seems to me there’s an opportunity for genuine compromise. At the same time, we can garner evidence on how to deal with future recessions, so every occurrence will no longer become a matter of partisan debate.”

And:

“Fifty-three percent of American voters voted for Barack Obama; 46% voted for John McCain, and 1% voted for wackos. Give that 1% to President Obama. Let’s say the vote was 54% to 46%. As a way to bring the country together and at the same time determine the most effective way to deal with recessions, under the Obama-Limbaugh Stimulus Plan of 2009: 54% of the $900 billion — $486 billion — will be spent on infrastructure and pork as defined by Mr. Obama and the Democrats; 46% — $414 billion — will be directed toward tax cuts, as determined by me.”

Rush’s plan is that once both approaches have been implemented, we will then compare the results.  Once and for all, there would be definitive evidence as to what works: increased government spending or tax cuts.  Note, the comparison would be of results, not intentions.  So much of what liberal Democrats [and government in general] do is guided by intentions, not results.

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Posted in Future of the GOP, Innate hypocrisy, Liberalism, Obama, Redistribution of wealth, Socialist economics, Stupid legislation, Taxes | Tagged: , , , , , , | Leave a Comment »

Obama’s Choice: FDR or Reagan…government or market…socialism or capitalism

Posted by Liberty on January 12, 2009

Socialism or capitalism?  The choice America is facing at this time is just that existential.  I fear that the average citizen in this country today doesn’t even clearly understand the differences between the two economic systems.  We’ve been in similar economic situations before, chosen wrongly and suffered the consequences.  All I ask is that we examine the past…say the era of the Great Depression, since that’s what our current economy is constantly being compared to.  Pat Buchanan has some important Depression economic stats in the article linked below.  For instance:

“By 1933, 89 percent of stock value had been wiped out, the economy had shrunk by one-third, thousands of banks had closed, a third of the money supply had vanished, and unemployment had reached 25 percent — among heads of households.”

 

Compare that to what’s happening today:

“…the financial collapse and economic crisis of 2008, inherited by Obama, with 40 percent of all stock values wiped out in a year, foreclosures pandemic, and unemployment near 7 percent and surging.”

So what did we do to combat the Depression?

“FDR’s answer: vast federal spending, tough new regulations on business and higher taxes — like Herbert Hoover before him, only more so.

The Depression lasted until war orders from the Allies brought U.S. industry back to life. Before 1940, not once did unemployment fall below 14 percent. In May 1939, Treasury Secretary Henry Morgenthau testified:

‘We are spending more money than we have ever spent before, and it does not work. … I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. … I say after eight years of this administration we have just as much unemployment as when we started … and an enormous debt, to boot.'”

Obama’s economic stimulus plan consists of spending.  Plain and simple.  Government spending didn’t work in the 1930’s and it won’t work now.  Period.  But the New Deal programs got Roosevelt 3 terms as President and solidified Democrat power.

Obama’s Choice: FDR or Reagan

Posted in American history, Liberalism, Obama, Public education, Redistribution of wealth, Socialist economics, Taxes | Tagged: , , , , , , , | Leave a Comment »