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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (532282)11/24/2009 12:17:47 PM
From: TimF  Read Replies (1) of 1586777
 
100% safe.

Nonsense.

Virtually all economists that are not nut ideologically driven

A measurement which you can use to exclude any economist you disagree with by describing them as "nut ideologically driven".

would say that you can't spend 100's of billions of dollars without creating lots of jobs

In gross terms, well its pretty hard to do so. But it net terms, sure you can. Your hiring new people, and encouraging others to hire new people, but the money to hire them comes from other areas, you don't create new wealth by increasing government spending. Also the political/regulatory uncertainty prevents hires that would otherwise have happened.

I suspect some net jobs have been created, but in the process we've had a net destruction of wealth, and a delay in adapting to new circumstances as politically favored constituencies get the government to prop up their situation.
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