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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: lorne who wrote (63428)4/21/2009 1:10:20 PM
From: Steve Lokness  Read Replies (2) of 224738
 
If the USA is in economic crisis from overspending just how can spending vast more amounts fix the problem?

Good question. The economy did indeed over heat and largely on debt - debt of the consumer. Now the consumer needs to retrench and get their debt under control - and thus our slow down. And sagging home prices. If you know Austrian School economics theory, you think of this time as deflation. Soooo the consumer will constantly spend less and the increased unemployment rate continues to rise (you don't deny this do you?). So the question then becomes, how to stimulate the economy? We can drift lower for years as we did in the Depression - or we can try to stimulate with the government. It is a simple matter of fact that the governments around the world are the only ones with deep enough pockets to make any difference. Will it work? I haven't a clue - but you and every one else better hope it does!
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