Despite his leadership status, it’s clear this man doesn’t know shit about economics or even more important, what it takes to jump start an economy.
We’ve got to make some decisions here as to what’s in the best interests of our country going forward. And I think the best interest is to invest in education, control these deficits, while at the same time trying to get people back to work.
We’re not going to save our way out of this recession. We’ve got to spend our way out of this recession, and I think most economists know that.
— Rep. James Clyburn (D-S.C.), House Majority Whip
Actually, I don’t think “most economists know that” because I haven’t heard too many publicly advocate the notion you could spend your way out of a recession.
Obviously Congressman Clyburn knows something the economists don’t.
Hasn’t Clyburn the Wipwad ever heard the quote, “When you find yourself in a hole, quit digging!!” ??
What a bunch of retards the American Voters are, look what they’ve foisted on us for Gubmint Officials!
Igor
“jeeze…the House Majority whip sellout is taking advice from the Kenyan sellout “We’re gonna SPEND our way out of debt”
ya that makes TOTAL sense…”
Sure, we lose $.01 on every sale … but we’re gonna make it up on volume!
“… do us all a favor and read Dr. Thomas Sowell.”
Or Walter Williams.
Not even friedman, a little bit of hayek and mises would help. And when in doubt, Bastiat’s “What is seen and what is not seen” should whip a spender into shape.
For pete’s sake, Clyburn, if you can’t read Milton Friedman or Peter Drucker, do us all a favor and read Dr. Thomas Sowell.
jeeze…the House Majority whip sellout is taking advice from the Kenyan sellout “We’re gonna SPEND our way out of debt”
ya that makes TOTAL sense…
…not
Okay, let me rephrase that: “reputable economists.”
The problem is that most economists DO say that. It’s all part of Keynesian macro. The belief that spending is the best way to get out of a recession. It’s that school of thought that has led to the federal reserve, policies in the great depression that delayed it, inflationary policy (see the federal reserve), stimulus, etc.
Those “most economists” are the kind of economists that obama was paying attention to. No one directly said “spend out of a recession”, but it’s implied in the stimulus, TARP, and all the “too big to fail” handouts.
The real winners are the austrians (peter schiff, thomas woods, etc.) that called the crisis we are in from a few years before it hit.