Quote of the Day 02/07/2009

by thoughtfulconservative

Dave Barry(via Lance at Badger Blog Alliance)

See, when the Government spends money, it creates jobs; whereas when the money is left in the hands of Taxpayers, God only knows what they do with it. Bake it into pies, probably. Anything to avoid creating jobs.

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7 Comments to “Quote of the Day 02/07/2009”

  1. When the money is in the form of one-time tax breaks, people tend to spend about 30% of it. When the money is nothing more than really low interest rates, that usually works pretty well–only it isn’t now. How low are interest rates? And how much lending/borrowing/spending is going on? Not much.

    Government spending, because it is by definition 100% spending, goes directly into demand for goods and services. No paying down credit card debt or anything else. Just spending on goods and services. That’s why the current recovery plan has to be largely government spending.

    Dave Barry is not terribly smart. Either that or he’s just being obtuse in order to get a laugh out of conservatives.

  2. Probably the latter.

  3. Doesn’t really matter now anyway. It’s passed. Let the spending orgy begin.

  4. Well it matters to me. The so-called “moderates” and the far-right ideologues have succeeded in cutting down big chunks of the government spending, thus decreasing it’s effectiveness. There are those who say it should have been far larger in the first place to actually work. Now it’s odds of working are even lower than they were at the start.

    We’re going to jump halfway across the chasm. Here we go. And the very people who picked apart the bill will complain the loudest if it fails.

  5. So, Scott, where does all this money come from? Will it magically appear? Spend 3 trillion if you want, but where does the money come from?

    CBO seems to imply we’d come out this fine without the stimulus. Why does Congress have a CBO if they’re not going to pay attention?

  6. where does all this money come from? Will it magically appear?

    Yes, yes–we have to borrow it. Debt. It’s true. You conservatives purport to hate debt. I get it. But it’s the only way to get that kind of money and I fear the cost of not doing it will be far greater.

    CBO seems to imply we’d come out this fine without the stimulus.

    Can you help me understand what you’re talking about here? Show me where the CBO predicts that we will “come out of this fine” without doing anything.

  7. We may not be able to borrow it. How much more of our debt will China and Japan take?

    If we can’t borrow, we’ll have to print money leading to inflation and a whole different set of problems.

    Here is the CBO report (PDF file), I mentioned. It’s a report that deals with the economy without any stimulus bills (Page 2 of the report, page 4 of the PDF, right hand column).

    On page 1 (page 3 of the PDF), the CBO forecasts a marked contraction in 2009 followed by a recovery in 2010.

    But again this bill will pass. We’ll need more later in the year and that will pass. We’ll survive, but I just think it could have been better.

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