you're implying that World War III is what would pull this country out of depression, right? It worked before, right? Why did it work...wasn't it just the war spending that spurred the economy? In other words, 'government spending' to kick start the economy? I don't know the answer but that's my take. Why not use that government spending to build shit, rather than spend it on war? Those of you who think a war is what's needed to pull us out of our financial mess, must be supportive of Obama's stimulus idea right? I am. Deficits and Debt are real problems, but I get tired of people lambasting the President for the 'stupid stimulus'. Maybe it was a necessary evil? If unemployment sucks now, what would it be without the stimulus?
If the stimulus had been structured to provide more small business tax breaks or tax credits for new hires, then you would probably have seen great employment gains over the past 16 months then what what we have under this "stimulus". Instead Obama left it to the Dem controlled House and Senate to write the bill in which the majority of it is for pork barrel projects in Dem districts to be dispersed in and election year.
So tons of money wasted on pork and used to bail out a few "too big to fails" helped the rest of the country hire more people? If you believe Nobama's "We saved XXX number of jobs (which was shown to be based on lies)," I hate to think what other snake oil you may swallow...
Geez what suffices for economic thought taught in classrooms is suitable only for bubble gum wrappings. Complete rubbish war spending did not spur the economy or create any real wealth . 5 years of pent up consumer demand from rationing finally being released is what pulled us out of the depression. The president deserves to have his ass kicked not just lambasted for failing to learn simple economic history. More specifically if you think war spending benefits the economy read the broken widow fallacy. http://freedomkeys.com/window.htm
No I am against war, but many feel that's what pulled the US out of the Great Depression. As I mentioned in another thread I don't is Keynes or Hayak is correct, but I am sure there will be plenty to Monday morning quarterback it.