Economic Stimulus Plan

Economic Stimulus Plan

Economic Stimulus Plan - U.S. taxpayers and their progeny are $790 billion dollars poorer today than they were on Friday. The stimulus plan, all 1,071 unread pages of it, raced through Congress like a streaker across a cricket pitch on the weekend. Before anyone was able to compute the vulgar image flashing before their eyes, it was out the door and stamped on the pages of regrettable historical moments.

Economic Stimulus Plan - Just the Beginning

And you can get ready for more naked embarrassment too. Obama says the mammoth package is "just the beginning" of his effort to buttress America's crumbling economy. We seem to recall expressing disgust at a spending package of similar size last year. What ever happened to that? "change." Thats what we will all be left with. "Economic Stimulus Package" or "Government Takeover".

Economic Stimulus Plan - Raw Deal

But we shouldn't be too surprised. The path to peril - be it moral, political or economic - is well trodden with the footprints of fools (Ignorant Voters)and everyone plays their part. Just how different, for instance, is Obama's Newer New Deal from Roosevelt's Old New Deal?

Economic Stimulus Plan FDR'S FAILURE

FDR's policies won approval (after pesky pro-constitutionalist Supreme Court justices died off and the bench was stacked with New Deal comrades) on the promise that his massive government-spending program would generate jobs and liberate the economy from the claws of the Great Depression. So, did it?

Harold Cole and Lee E. Ohanian, writing in The Wall Street Journal, provide some facts:

"In fact, there was even less work on average during the New Deal than before FDR took office. Total hours worked per adult, including government employees, were 18 per cent below their 1929 level between 1930-32, but were 23 per cent lower on average during the New Deal (1933-39)."

What happened to the typical peak-trough cycle that both fascinates free-market enthusiasts and infuriates meddling do-gooders? Well, the meddlers won, of course. And any time world improvers clamp down on peaks and troughs, booms and busts are only just around the corner.

Welcome to Obama's Socialistic Raw Deal.

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