Quote:
Originally Posted by icenine
You should read some history......America has been deficit spending with mostly good results since about 1933. It has been an effective fiscal tool in dealing with both the Great Depression and World War II ...we could not have defeated the Axis and brought out country out of the Depression without Keyesian economic policies.
Both Dems and Republican Presidents have used it. The thing is Bush did not have any revenues in place to offset the deficit he created with his tax cuts and wars. Most Presidents raised revenue in addition to deficit spending. Bush deficit spent on steroids and cut taxes on steroids at the same time. LBJ did sort of the same thing during Vietnam...that was one of the reasons for the inflation in the 70s if you were around then.
Obama inherited this mess....to save this county he had to do the only thing he could and stimulate it and save the banks with more of the same things Bush had done. It is sort of like Bush left the patient in the Emergency Room and then the patient coded and got delivered to Obama in the Operating Room.
Obama had to save the banks.... that is our economic system....he had no choice McCain would have done exactly the same thing.
Think in terms of macro economics Whell.
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Yep. And long before that really. Study up on Hamilton. The system was designed around debt from the very beginning. But, today the GOP relies on history from
Conservapedia and the Texas School Board. And we all know how pristine and unbiased those folks are............
