Sunday, November 01, 2009

Worst bill ever - That's how the Wall Street Journal describes the Pelosicare bill in the House. This is a masterpiece of unminced words: "The healthcare bill that [Pelosi] unwrapped last Thursday, which President Obama hailed as a "critical milestone," may well be the worst piece of post-New Deal legislation ever introduced." The editorial gives a detailed account of a runaway new entitlement in a time of exploding debt that will force European levels of taxation.

10 comments:

Anonymous said...

The Wall Street Journal also avoided mincing when writing about the sweeping success of the Obama stimulus package.

U.S. Economy Gets Lift From Stimulus:
http://online.wsj.com/article/SB125185379218478087.html
"Government efforts to funnel hundreds of billions of dollars into the U.S. economy appear to be helping the U.S. climb out of the worst recession in decades... Economists say the money out the door -- combined with the expectation of additional funds flowing soon -- is fueling growth above where it would have been without any government action."

Both WSJ articles could be correct, of course. But it's amazing how unimpeachable sources can suddenly become very peachable - or vice versa - when they endorse/repudiate a party line.

Brian said...

E,

How can I get a job going through websites to enter comments like this?

Eric said...

Hmmm..it seems you left out the second graf:

"But there's little agreement about which programs are having the biggest impact. Some economists argue that efforts such as the Federal Reserve's aggressive buying of Treasury debt and mortgage-backed securities, as well as government efforts to shore up banks, are providing a bigger boost than the administration's $787 billion stimulus package."

We now know that Cash for Clunkers artificially added 2% to a 3% quarterly growth and the $787 billion stimulus package has "saved or created" enough jobs to bring us close to 10% unemployment. But, yes, if you step on the gas, a car goes faster. Eventually you have to pay for the gas.

Anonymous said...

#2: Contrary information make Brian's head go ouch.

#3: Hmmm hmm hmmm, it seems you left out the fourth graf... and the fifth... and the sixth... and the seventh. As usual, the radical left Wall Street Journal was blinded by love for the Obamessiah:

"Much of the stimulus spending is just beginning to trickle through the economy, with spending expected to peak sometime later this year or in early 2010. The government has funneled about $60 billion of the $288 billion in promised tax cuts to U.S. households, while about $84 billion of the $499 billion in spending has been paid. About $200 billion has been promised to certain projects, such as infrastructure and energy projects.

Economists say the money out the door -- combined with the expectation of additional funds flowing soon -- is fueling growth above where it would have been without any government action.

Many forecasters say stimulus spending is adding two to three percentage points to economic growth in the second and third quarters, when measured at an annual rate. The impact in the second quarter, calculated by analyzing how the extra funds flowing into the economy boost consumption, investment and spending, helped slow the rate of decline and will lay the groundwork for positive growth in the third quarter -- something that seemed almost implausible just a few months ago. Some economists say the 1% contraction in the second quarter would have been far worse, possibly as much as 3.2%, if not for the stimulus.

For the third quarter, economists at Goldman Sachs & Co. predict the U.S. economy will grow by 3.3%. "Without that extra stimulus, we would be somewhere around zero," said Jan Hatzius, chief U.S. economist for Goldman."

Anonymous said...

Last week I accidentally scraped my leg. I went to the store to buy a $2 box of band-aids. But on the way I met a government bureaucrat who saw my predicament and insisted that I buy a box of government band-aids instead. Since they sell for $20,000 a box, I was leery. But the man screamed and howled that my leg was in great danger and might well develop gangreen and have to be amputated if I failed to use the government approved solution. So I went to the bank, withdrew my savings, and purchased the government band-aids.

At first, it was difficult. The band-aids were of low quality and kept breaking before I could put them on. But eventually, I got one to stick. Finally, several days later, I pulled the band-aid off, and -- lo and behold -- my scrape had healed nicely.

I tell ya, those government band-aids are amazing. Who knows what would have happened if I had entrusted my life to those cheapy band-aids (even though they worked perfectly well for all the previous hundreds of scrapes and cuts I have had). Probably saved my leg. I think the government should start keeping statistics of "legs saved or created". We are truly lucky to have such good people running the show.

Anonymous said...

The above poster was head writer for Fox News' "The 1/2 Hour News Hour."

Anonymous said...

The above poster has a bad case of the stupids.

Nurse! Get me the speculum, STAT!!!

Anonymous said...

Conservative satire!

It's a lot like North Korean freedom, or children's menu cuisine.

Anonymous said...

Liberal governance!

It's a lot like a circular firing squad.

Anonymous said...

Liberal governance!
It's a lot like a circular firing squad.


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