Daily Archives: February 7, 2009

Duh Economics

If I hear one more person ask how spending billions of dollars is supposed to stimulate the economy, I think I’ll scream at the top of my lungs while pulling every hair out of my head. After that, I will buy a wig, glue it to my head and continue with the hair-pulling.

I’m going to be as restrained as I possibly can here, but this is getting ridiculous. At the risk of sounding like a condescending jerk, when someone asks how spending money stimulates the economy, they show a complete ignorance of even high school-level economics. The question is as jaw-dropping to me as asking how billions of people having sex is supposed to stimulate population growth.

So then you get the argument, ‘well, this is not a stimulus bill, this is a spending bill.’ What do you think a stimulus is? That’s the whole point! — President Obama

Exactly! I’ve been saying this, almost verbatim, for a couple of weeks now. Thank you, Mr. President!

But now we’ve got people saying, “So, he finally admits that the stimulus bill is about spending.”

Excuse me while I have a facepalm moment.

President Obama no more “admitted” that the stimulus bill is about spending than a person could “admit” that air traffic is about planes flying around in the sky, or that ice is about frozen water.

But let me tell you where I think President Obama went wrong in all this: He gave too many people more credit than they deserved in assuming that they understood what the damn word means.

He didn’t “admit” to anything, as that would imply that he had previously denied or attempted to cover it up. I think he just finally realized that he was going to have to dumb it down for people who clearly weren’t grasping all the words or understanding the very basics of Duh Economics.

This is not simply a matter of perspective. This is not some sinister, liberal conspiracy to steal people’s money. The United States is in economic crisis. Police are being called to control the crowds at job fairs! This is the harsh reality of the situation.

Republicans may not like it but the way to create jobs fast is through spending. It matters when you’re wrong. A whopping proportion of the Republican rhetoric about stimulus is wrong – total economic bull puckey. It’s time to take the radical step of privileging correct information over incorrect information.

Rachel.msnbc.com

For a crash course in what economists from both sides of the aisle are saying, please watch at least the first four minutes of this, though I do recommend the entire eight minute course.

Posted by Lottie — Copyright © 2009 Rambling On