Obama has borrowed nearly as much money as all other presidents combined, and yet has managed to keep unemployment over 9% during most of his term.
Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits (-): 1789–2017
Disrupting the Borg is expensive and time consuming!
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Reblogged this on Climate Ponderings.
What rat hole did all that money go down? I don’t think the average person ever smelled a whiff of it. Where are all the shovel ready jobs? If all that money were spent on jobs, unemployment should be 0%. There is something rotten and not necessarly in Denmark.
Denmark’s probably got it bad, too, But here’s a relevant comment I’m about to leave at hotair: Axelrod doesn’t quite get it. This “gaffe” [the private sector is doing just fine] underpins O’s misreading of the “capitalist” economy. O says that some states & localities have lost jobs. True, but implicit here is that O thinks that the govt sector is part of the economic engine of this country. But, public sector spending acts only as an anvil to the larger economy, sucking resources and capital and opportunity cost. Additional spending on pencil-pushing make-work public jobs does only one thing: prevent a larger number of private jobs from being “saved or created.”
O thinks the way to build the economy is to prop up the public sector, and give only rhetorical heed to the private sector. This is a recipe for certain failure, and for the stag-conomy that we are now painfully experiencing.
He’s trying to foist the same ‘solution’ on the EU too. He wants the EuroZone to spend their way to growth.