Friday, May 1, 2009

Having It Both Ways

Republicans complain about Obama’s pump-priming: trying to get the economy moving forward with the only entity able to invest at this point – the government. They duplicitously complain that the taxpayers will end up paying for this. (Putting aside that this argument shows an obvious lack of understanding about investment and multiplier effects), this completely ignores the Republican’s own deficits that they’ve run up over the last three decades. This also completely disregards the fact that if the government were to do nothing: unemployment would be increasing even faster, more businesses would be failing or filing for bankruptcy, more people would be losing their jobs and filing for unemployment and in need of government aid for medical care – who do they think would be paying for these costs?

No comments: