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Obama Stimulus=Fail

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    #32
    Sand
    Registered Users Posts: 12,588 ✭✭✭✭Sand


    And dont forget, the post World War I recession ( where the economic down turn was more severe than in the Great Depression) the Republican administration of the US did do precisely nothing. In turn the recession was very short lived. From 1922 to 1929 there was consistent economic growth in the US.

    The lessons of that recession are ignored. Doing nothing and allowing the economy to reallocate resources naturally instead of attempting to maintain a poor allocation of resources through subsidies *is* an option.

    Remember - this current global recession was fuelled by easy credit. Where did that easy credit come from? Governments flooding the world economy with money to attempt to an economic downturn post the 9/11 attacks. Doing precisely nothing in that situation might have been more beneficial than fueling bubble economies.
    So how about the Irish situation. Should the government do nothing?

    Ireland has a fiscal crisis.


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    #33
    Overheal
    Registered Users Posts: 83,309 ✭✭✭✭Overheal


    amacachi wrote: »
    Didn't you vote Obama Overheal?
    Yes.

    That decision was made before the economic recession began to really happen. Further I didnt want Palin in the White House. Nothing against McCain.

    Of course despite that I was pissing into the wind: I live in South Carolina. Either way he is the best fit for the White House, I think the real problem is the Supermajority the Democratic party has in the House and Senate. I had nothing to do with that. I did vote for Lindsey Graham.


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    #34
    amacachi
    Closed Accounts Posts: 23,316 ✭✭✭✭amacachi


    Overheal wrote: »
    Yes.

    That decision was made before the economic recession began to really happen.

    Thought Obama's plans had already been made? Though a lot of what Obama is doing is what was planned anyway and the current administration is taking "credit" for.

    But yeah, I thought I had vaguely heard tell of the stimulus making some difference, of course I may have dreamt it. I don't think the US government should be throwing cash around like they're planning to, hopefully I'll be proven wrong.


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