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Obama's Economic Advisor Admits She Can't Ever Know If Stimulus Will Succeed

Christina Romer, chair of the President’s Council of Economic Advisors, recently admitted in an interview with CNBC’s Maria Bartiromo that it is effectively impossible to accurately measure how many jobs the stimulus saved, will save, created, or will create.

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Obama's Economic Advisor Admits She Can't Ever Know If Stimulus Will Succeed

Christina Romer, chair of the President’s Council of Economic Advisors, recently admitted in an interview with CNBC’s Maria Bartiromo that it is effectively impossible to accurately measure how many jobs the stimulus saved, will save, created, or will create.

07/16/2009
Stimulus Success? Higher Unemployment

The unemployment rate hit 9.4 percent last month—a 26 year high.  111 days after the passage of the stimulus bill $43.7 billion of it has been spent while over 2 million jobs have been lost.  Today the president announced that they will accelerate the rate of spending and save or create 600,000 jobs over the next hundred days. 

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Stimulus Success? Higher Unemployment

The unemployment rate hit 9.4 percent last month—a 26 year high.  111 days after the passage of the stimulus bill $43.7 billion of it has been spent while over 2 million jobs have been lost.  Today the president announced that they will accelerate the rate of spending and save or create 600,000 jobs over the next hundred days. 

06/08/2009
Keynesian Bubble Reinflation

Mario Rizzo at NYU has a great article has a great article in this issue of the Freeman explaining how Keynesian stimulus packages can't restore confidence to an economy.  He argues that in order to restore confidence in the market, which Secretary Geithner has claimed is the goal, we have to fix the causes of the problem rather than the symptoms.  A stimulus package does not correct, even in Keynesian terms, the "collective irrationality" that lead to a housing bubble in the first place.  

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Keynesian Bubble Reinflation

Mario Rizzo at NYU has a great article has a great article in this issue of the Freeman explaining how Keynesian stimulus packages can't restore confidence to an economy.  He argues that in order to restore confidence in the market, which Secretary Geithner has claimed is the goal, we have to fix the causes of the problem rather than the symptoms.  A stimulus package does not correct, even in Keynesian terms, the "collective irrationality" that lead to a housing bubble in the first place.  

04/07/2009
Sanford Refuses Stimulus Cash

South Carolina Governor Mark Sanford today announced he would refuse federal stimulus cash since his request to use some of the money to pay down state debt was rejected by the White House.  This is worth noting, not only from the standpoint of the Obama Administration ramming policy down the throat of a state, but also because many in the media have been unfairly jumping on Gov. Sanford of late and calling him a hippocrite for saying he wouldn't take stimulus money and then flipping.  Needless to say, this is simply untrue.

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Sanford Refuses Stimulus Cash

South Carolina Governor Mark Sanford today announced he would refuse federal stimulus cash since his request to use some of the money to pay down state debt was rejected by the White House.  This is worth noting, not only from the standpoint of the Obama Administration ramming policy down the throat of a state, but also because many in the media have been unfairly jumping on Gov. Sanford of late and calling him a hippocrite for saying he wouldn't take stimulus money and then flipping.  Needless to say, this is simply untrue.

03/20/2009
Congress Angry about Irresponsible Use of Taxpayer Dollars

David Harsanyi of the Denver Post has written an amazing article on Congressional outrage over AIG bonuses.  "Here's an idea: If you stop nationalizing banks, there will be no need to engage in phony-baloney indignation over bonus payments anymore."  He's exactly right!  I can't say it any better than he does: 

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Congress Angry about Irresponsible Use of Taxpayer Dollars

David Harsanyi of the Denver Post has written an amazing article on Congressional outrage over AIG bonuses.  "Here's an idea: If you stop nationalizing banks, there will be no need to engage in phony-baloney indignation over bonus payments anymore."  He's exactly right!  I can't say it any better than he does: 

03/18/2009
Ron Paul on Reinflating the Bubble

Ron Paul explains to Congress that we can't re-inflate the housing bubble.

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Ron Paul on Reinflating the Bubble

Ron Paul explains to Congress that we can't re-inflate the housing bubble.

03/12/2009
Rothbard on Consumer Spending

A report released on Monday by the Commerce Department said spending rose by .6 percent in January.  The article reminded me of a chapter in Murray Rothbard's Man, Economy, and State.  Rothbard writes in Chapter 6, 

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Rothbard on Consumer Spending

A report released on Monday by the Commerce Department said spending rose by .6 percent in January.  The article reminded me of a chapter in Murray Rothbard's Man, Economy, and State.  Rothbard writes in Chapter 6, 

03/02/2009
The Government Stimulus Website

Our new accountable and transparent government recently launched a website to monitor spending from the stimulus bill.  On the very front page the site shows tax relief as the largest part of the stimulus.  I took issue with that right away.  The relief I thought they were talking about was the $400 tax rebates we're supposed to be getting which is looking more like welfare than a tax relief to me.

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The Government Stimulus Website

Our new accountable and transparent government recently launched a website to monitor spending from the stimulus bill.  On the very front page the site shows tax relief as the largest part of the stimulus.  I took issue with that right away.  The relief I thought they were talking about was the $400 tax rebates we're supposed to be getting which is looking more like welfare than a tax relief to me.

02/25/2009
Some Governors May Reject Stimulus

Republican governors from Louisiana, Alaska, Idaho, Mississippi, Texas, and South Carolina may reject parts or all of the stimulus bill.  Most of the Governors are worried about future expenses down the road when the stimulus money stops flowing.  Others are concerned about federal requirements in the bill that might place extra costs on business.  Either way, federal money almost always comes with federal strings and an erosion of the healthy divide between power in Washington and power in the states.  

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Some Governors May Reject Stimulus

Republican governors from Louisiana, Alaska, Idaho, Mississippi, Texas, and South Carolina may reject parts or all of the stimulus bill.  Most of the Governors are worried about future expenses down the road when the stimulus money stops flowing.  Others are concerned about federal requirements in the bill that might place extra costs on business.  Either way, federal money almost always comes with federal strings and an erosion of the healthy divide between power in Washington and power in the states.  

02/23/2009
Congressman Tom Price on Stimulus

Here's a video of Tom Price, Congressman from the sixth district of Georgia, speaking this morning on the stimulus bill.   

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Congressman Tom Price on Stimulus

Here's a video of Tom Price, Congressman from the sixth district of Georgia, speaking this morning on the stimulus bill.   

02/13/2009

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