Off-Topic: Good news indeed
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Name:
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MartiniMan
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Subject:
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Good news indeed
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Date:
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9/3/2009 8:36:39 AM
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Archie: You don't get it do you? Unlike Democrats that look for bad news if it helps them politically I am happy for any good news on the economy. I have over 250 people that work for me and I don't want any more of this economic turmoil. That is why I oppose so much of what Obama has done because it damages the economy.
As for the impact of the stimulus package, here's a little factoid for you. $816 billion was allocated and according to recovery.org (this is the Messiah's own website, not some right-wing site) to date they have spent a mere $63 billion or 7.7%. The U.S. Gross Domestic Product is currently around $14 trillion so the stimulus money spent already (and the majority of it has gone to state and local governments in order to keep unionized government employees paid) so the stimulus money spent to date only represents 0.45% of GDP (that less than one half of one percent). Looking at it another way, of the gross domestic product created private companies and routine government spending generated 99.55% of the economic output. So I seriously doubt that this tiny percentage of GDP has had much impact and if we are recovering (which I hope we are) it is in spite of the government, not because of it.
Now I am sure that the $63 billion spent so far has had some positive impact but considering we recover on average in 18 months from recessions without any government intervention and this recession has lasted much longer, I would argue that it has had little impact. Of course, that $63 billion came from us, the taxpayers, so we didn't have it to invest in job creation. You seem to continue to operate under the faulty assumption that government creates anything. They simply take money from the productive, waste $2 out of every $3 on bureaucracy, and then return $1 to the economy.
You really need to give more thought before you jump on the bandwagon and start taking headlines from any newspaper, yes even the Wall Street Journal, and putting it out here. We actually think and analyze things and don't just accept every headline at face value.
And by the way, let's examine the relationship of Goldman Sachs to the current administration and other Democrats in government. They are all over this administration. Does that mean they might be willing to make statements that seem to support their old buddies who will no doubt return there after their stint in government to create millions of more in profits for Goldman. Good for them as far as it goes but don't expect any intelligent thinking person to accept what they say at face value.
And please don't respond with mindless attacks as they are so boring. If you have some counterargument to my analysis I would love to hear it. Maybe I got something wrong. Maybe I am missing something. Do some research, bring to light some facts.
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