In Commentary Magazine, John Podhoretz wrote about the stimulus plan and all the ways that Obama and the non-economists on Capitol Hill think that almost $800 billion will improve our economy.
Towards the end of the article he points out that the concept of government spending in order to help the economy is so shallow, seeking to fix the symptoms rather than the disease. But isn't that what politicians seek to do?? They want results and not only that, but results that are clear and obvious in time for the next election year. This isn't cynical--it's reality.
But as Dr. Mitchell was saying in macroeconomics yesterday, the business cycle of recession/trough/expansion/peak is a fluctuating cycle that lasts some ten years. Pelosi said, "I don't think we can move fast enough." Well, Nance, unless you can change time itself, get over it. Big (and natural) processes take time and time doesn't accept bribes--even to the tune of 3/4 of a trillion dollars.
1 day ago