No, Mr. Krugman, it's "The Statist Menace," and yes, I would agree with at least one thing within your article and that is we are, indeed, on our way to the "new" new deal, and it is one that essentially taxes the bejesus out of us all in order to set into "clunky" motion economic principles which belong in the garbage heap of history rather than the much ballyhooed "change we can believe in" mantra that seems to be bankrupting our country (Sony Vaio VGN-FZ battery).
I am still trying to figure out how the "Statesmen" that are referred to in this article as the "Centrists" in the Senate are hobbling efforts to rescue the economy? The only thing we have seen that has hit a possible passage roadblock is the Senate Healthcare Bill. I fail to see how a budget-busting healthcare bill is going to help the economy (Sony VGP-BPS8 battery). By that reasoning--perhaps we should all turn our ceiling fans on so that we can lower the global temperatures even further than they have already declined in the midst of this "phantom global warming" that the liberals love to proudly parade around like a mannequin with lipstick on--that we are then supposed to take seriously....Oh, yes! Quite a lovely lady she is, Sir...(for Heaven's sake) (Sony VGP-BPL9 battery).
Paul then drags out "leading Economist" Lawrence Summers who had called for decisive action towards the economy in December of 2008 stating "doing too little poses a greater threat than doing too much," which at this point is a moot point because nothing has really been done for the better part of this year beyond a great deal of talking (Sony VGP-BPS9 battery).
Paul goes on to point out that most Economists he talks to believe that "the big risk to recovery comes from the inadequacy of government efforts." Paul states that "the stimulus was too small and it will fade out next year while higher unemployment is undermining consumer and business confidence (Sony VGP-BPL11 battery)."
Excuse me Paul, but please allow me to point out the following: The reason the stimulus is not working so far is because only 28% of the funds have been allocated and have only just now kicked in (Sony VGN-FZ460E battery).
That's right ladies and gentlemen. The total amount that has been paid out is only $220 Billion. We have a $14 Trillion dollar economy and $220 Billion amounts to less than a pinprick to a $14 Trillion dollar economy--even if it were to work, it has not yet had a chance to (Toshiba PA3535U-1BRS battery). If we do a considerable amount of rounding we could say that the stimulus equals almost $1 Trillion for comparison purposes. This means that the stimulus represents without the rounding less than 6% of our total economy even after the entire stimulus has been paid out. Now let's look at this problem by comparing these values in the terms of a household in the US that makes $50,000 per year--let's multiply $50,000 times that same 6% and see what we get. The answer is $3,000 (Toshiba PA3534U-1BRS battery). Granted that's nice and it works out to about double what President Bush gave to most tax-paying families in 2007. But the problem is the following: If we compare our family values to the US economy--this would mean that these same tax-paying families have so far only received 28% or $840. Now remember this is just for comparison since families are not actually getting this--the entities actually receiving these funds were essentially hand-picked by the fine folks in our government (Toshiba PA3399U-2BRS battery).
At any rate, if you are trying to clothe your family, make house payments, eat, etc., that same $840 over a year's time would amount to about $70.00 per month which might pay a freaking cable bill! That's right. So the answer to this, according to Paul, is to throw more money at the problem despite the fact that very little has actually been thrown at the problem so far (Toshiba PA3399U-1BRS battery). (The liberal brain is, apparently, a mystery that defies explanation.) Further, the true aim of a stimulus is to actually "stimulate" --this has actually been more of a tease than a stimulation. If this measure were actually going to work, would not a better solution be to give that money directly to the families so that the stimulation can felt by everyone and everything within the economy rather than those whom have pleased the Democrats so that they will direct funds their way (Toshiba PA3285U-1BRS battery)?
Paul continues on bemoaning the fact that Obama is (finally and correctly) worrying about deficits rather than stimulating growth, but both I and Professor Walter Williams would submit that the money that the government is spending is actually sucking private capital out of the market, which is actually exacerbating the problem rather than fixing it (Toshiba PA3450U-1BRS battery).
Paul goes on to explain a few other things that make groundless, if any, points but then finishes with the following, which invokes a certain deja' vu: " it's much riskier to do too little that too do too much" and "it's sad and unfortunate that the administration appears to have lost sight of that truth." (Toshiba PA3285U-1BRS battery )
My question to that would be, "which truth are you speaking of that the administration has lost sight of ?"
I can only point out that I have yet to see any meaningful truth come out of this administration so far Paul.... (ASUS Eee PC 900 Battery)
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