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In Response to Re: Europe Facing More Pressure to Reconsider Cuts as a Cure:
In Response to Re: Europe Facing More Pressure to Reconsider Cuts as a Cure
"...It wasn't a cure 80 years ago and it's never been a cure. Keynesian economics has never cured a recession in any country at any time....".
I guess we'll all have to agree to disagree. I agree with you. But on the other side of this there seems to be the unshakeable opinion that austerity doesn't work, there is evidence for that, so we need to spend.
I agree --- I've seen virtually no change after the billions from TARP and as stated before, I don't see the feds able to manage any programs without massive waste, fraud, and pork.
I won't keep beating on the point...
Posted by retiredtraveler
Tommyrot. The stimulius PREVENTED the total meltdown of our financial markets and they are doing better than ever. What is missing is a rational tax structure that makes it more desirable to invest than to hoard cash. Repugs have gamed the system so now they are able to take huge quantities of Government money from the stimulius at "no interest" and loan it back to the Government at a couple percent, making billions with zero risk.