Doubts About Obama’s Economic Recovery Plan Rise Along With Unemployment

Doubts About Obama's Economic Recovery Plan Rise Along With Unemployment

My take: We won't know if this recovery plan is working for several more months, unless not until the end of the first quarter next year. Right now we are dealing primarily with speculation and politics. I have no clue if it will actually work, but I think it's reasonable to say no one really knows right now. Remember, the vast majority of us missed the coming of this downturn and even most top economists -- conservative and liberal -- did not predict how steep it would be. Why should anyone of us speak with certainty that they know what's going to happen next or what willor won't work? I wish there was a way to remove the politics from something as important as this, though I know that's going to happen any time soon.

Comments

[osamaobama]

Isaac, you are an intelligent man, studied some history (I am guessing) and have at least a basic knowledge of economics...

Where in history has spending money you don't have (debt) been used in order to combat a souring economy?

[Robert Meek]

Technically, when we went into WWII, and when we went in debt for doing so. It IS documented that ONE of the things that DID help stop the Great Depression WAS World War II.

Technically, that applies to the question "osamaobama" - but, I understand what you mean.

Truly, I do.

I understand the lack of logic.

I understand something needed to be done.

I don't think tax cuts would have done it.

Either they did too little, or too late, or too soon, or too much, or send it out the wrong ways but SOMETHING IS WRONG about the "recovery" even though it shouldn't be completed by now.

They did something wrong.

One way or the other.

[Henry]

I am not a big fan of Obama’s recovery program. I voted for McCain.
I am not a republican though. I am independent.
Bush’s economic policy was there but his administration was more concerned with Iraq.
While we were redoing Iraq. Our economy here in the last five years was becoming undone.
A lot of that is the fault of the Bush administration and all the spin in the world from Rush will not change that. By the way. I like Rush.

The American people voted Bush in.
He blew it. He got us into a war we did not need and he left the country in an economic mess.
I think if the republicans want to “win” elections they need to realize that 60 senators and the President is a democrat.

I am not saying Obama will be any better.
Perhaps he will also screw it up. Who knows.

[cat1dog]

Henry -

I am not a big fan of Obama’s plan either -
I also am an “independent” -
I too think Bush had a great opportunity to do great things for America but he spent much of his Presidency on Iraq - The “mission “ was not accomplished and he did leave the economy in a mess -
The buck stops at the president - He was the president -
Sometimes I also listen to Rush and he has some good points - Then other times he seems to be missing the point completely - Of course he is an entertainer and has to appeal to his audience - So I can not fault him for that - I listen to Rush and read the New York Times - What a combo - LOL

You said - “I think if the republicans want to “win” elections they need to realize that 60 senators and the President is a democrat.” -

True - In reverse - If the American people thought Bush did a good job then 60 senators and the president would be a republican -

They need to win “independents” like us to their side - Democrats and Republicans do not elect presidents -
“Independent” voters do -

The republican party seems to have no true leadership at this time and a lot of “scandals” like our Governor does not help - Here is another one -

http://www.nytimes.com/2009/07/11/opinion/11collins.html?_r=1&emc=eta1

I do not want to turn this into an “anti republican” post - That is not my intention - I could care less about either political party - For all I know Obama’s plan might not work and he might get voted out -
On the other hand the republicans need to get their head out of the sand or the next election there will be 70 democratic senators