Posted by FreeDumb, a member of the Harvest Park Middle School community, on Jun 10, 2009 at 3:46 pm
If you know anything about Keynesian economics, you know the time to save money is when market participants are spending. Now that people are scrambling to save money as a buffer against possible future unemployment, and in response to job loss or wages cuts, The only viable consumer left is the government. That is why liberals decried Bush's extravagance but support the stimulus bill. But leave it to the right wing to oversimplify by whatever means necessary to deny culpability for this mess and blame liberals for everything.
The right wing will always use mistakes and failures in progressive policy as an excuse to return to "free market" chaos.
Posted by Michael, a resident of Livermore, on Jun 10, 2009 at 4:08 pm
FreeDumb, what are you thinking guy? Hedge against future unemployment? Unemployment is now unless you consider 9.2% nationally and over 11% in California not significant and wage cuts heck almost everyone is either not getting paid at the same level, no raises, no bonuses or living on the edge of not knowing how long they will have their jobs. Our President is Obama not Bush and we have lost over 2,600,000 jobs since he became President and he admitted yesterday that his stimulus plan is not working. Prince Harry and Lady Nancy have been running the show since 2008. I do not know what you are saying about the libs not supporting TARP and stimulus 1 as neither could have went through without them passing it. You need to do a little research.
Posted by Mike, a resident of the Another Pleasanton neighborhood neighborhood, on Jun 10, 2009 at 9:22 pm
FreeDumb, I’m not into Keynes and he didn’t have a lock on economic theory.
Interesting line: ” The only viable consumer left is the government.” In fact, our federal and state governments are not viable, they’re both flat broke. On the federal level, we print money and borrow from “our friends” or are they now our masters, the Chinese and various Arab States. As for California, need I say anything?
Tax and spend policies will never lead to long term prosperity.
Last year, our governor said “ we don’t have a revenue problem, we have a spending problem. It can mo be said that we have a revenue problem and we still have a spending problem.
Democrats AND Republicans have let us down, at every level of government.
We need Statesmen and Stateswomen at every level (of government). People that will do the right thing, not the convenient thing, not the thing that brings them personal reward.
Special interests, be they Wall Street big shots, Hollywood moguls, Unions, corporate greed bags (and many more), want their special breaks. Corruption at every level, including here in Pleasanton, is rampant.
We the people, need to take back our power. We the people, need to understand that the beast is government, at every level. Some of you are uncomfortable with this position. Read what one of our founders wrote:
"We must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty or profusion and servitude. If we run into such debts as that we must be taxed in our meat in our drink, in our necessities and comforts, in our labors and in our amusements, for our callings and our creeds...our people.. must come to labor sixteen hours in the twenty-four, give earnings of fifteen of these to the government for their debts and daily expenses; and the sixteenth being insufficient to afford us bread, we must live.. We have not time to think, no means of calling the mis-managers to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow suffers. Our landholders, too...retaining indeed the title and stewardship of estates called theirs, but held really in trust for the treasury, must...be contented with penury, obscurity and exile.. private fortunes are destroyed by public as well as by private extravagance.
This is the tendency of all human governments. A departure from principle becomes a precedent for a second; that second for a third; and so on, till the bulk of society is reduced to mere automatons of misery, to have no sensibilities left but for sinning and suffering... And the fore horse of this frightful team is public debt. Taxation follows that, and in it's train wretchedness and oppression." -Thomas Jefferson Web Link