Saturday, June 09, 2012

The definition of insanity - Opinion Journal: "The President on growth": "The fair if depressing takeaway from Mr. Obama's press conference is that he continues to believe, despite three and a half years of failure, that more government spending is the key to faster growth and that government really doesn't need to reform. This is how you get a jobless rate above 8% for 40 months and the weakest economic recovery in 60 years."

1 comment:

Nigel Tufnel said...

"This is how you get a jobless rate above 8% for 40 months and the weakest economic recovery in 60 years."

Which coincides with the last time in our history when the economic situation was worse than it was when Obama was elected.

You get the economic and labor situation we are in now through a crash resulting from irresponsible and unsustainable bank practices, enabled by deregulation of the guys who keep saying that regulation is a bad thing. Then they ask the nanny state for hundreds of billions of the taxpayers' dollars to bail out their fundamentally flawed businesses. The GOP was willing and eager to shell out that money right up until the moment they were no longer in charge.

Given the worldwide economic situation, and the lessons that can be learned from the varied approaches taken (USA, China, Germany, UK, etc.), do you really believe that there is some government policy change that could give us, at this point in the recovery process, a significantly lower unemployment rate?