And it failed a very long time ago. In fact, it never worked at all. It was the start of the Bush recession and when the war spending really ramped up there was no chance of stabilizing without a massive tax increase. Since no one was willing to face reality that you cant spend money you dont have unless you want to sink into recession, we got what we asked for. The later part of the Bush presidency when he, or Sec of the Treasury Paulson really, finally realized what they had done, gave us a chance to rebuild the economy by rescuing key industries. Obama continued with the stimulus and we are now fairly well back to where we started, but we lost massive value in the process. We are back to the point where raising taxes will stimulate the economy and fund necessary social programs but the GOP still thinks that cutting programs and taxes for the wealthy are the way to go. I suppose they never heard that when your head hurts from hitting it against the wall, stop doing that. Growth does not come from shrinking.
Posted on: Wed, 23 Apr 2014 18:19:45 +0000
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