Blog Credo

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken

Wednesday, June 29, 2011

Facts Have A Well Known Liberal Bias


This makes more sense than supply side economics.

The Most Radiant and Splendid Wife and Bestest Friend Evah brought to my attention a study that looked at states that have cut spending since 2007 and states that have raised spending since 2007.  And then looked at their unemployment rates.  Guess what?

http://thinkprogress.org/economy/2011/06/27/255010/chart-states-cut-most-spending-jobs/

Once again, you return to the basic equation of demand: D=CS+BI+GS+(E-I).

Demand = Consumer spending+Business Investment+Government Spending +(Exports-Imports)

In the face of declining consumer and business spending, government spending should be used to stimulate demand.

There really is no counter-argument to this that I have heard that makes a damned bit of sense.  But according to the GOP, it's all about supply-side.  So, cut spending and cut taxes and jobs will magically appear.

This study above is about the millionth to show that supply side economics is so full of crap that its eyes are brown.

The same supply side idiots who are cutting budgets and cutting taxes are the same idiots who predicted that Bush 1.0 and Clinton's tax increases would lead to a recession and high unemployment.  They also said that the Bush 2.0 tax cuts would create a "rising tide that would lift all boats."  Crap and crap.

So, with all due respect to my lovely, intelligent and charming wife, having facts on your side won't matter a lick with these people.

It never has.

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