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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (128797)	1/20/2010 11:41:43 AM
From: Mary Cluney	Read Replies (1) \| Respond to of 541958

<<<Well something very significant was accomplished during the succeeding Clinton years and that was a balanced budget and the best of economic times. Think stock market in 1999>>> Good point even though things are somewhat different this time around. No one has given George W Bush the full credit that he deserves to have almost totally destroyed our economy. There is no proof that the economy will be restored if left alone. There is ample evidence to show that if nothing were done (providing stimulus and going into debt) that we would have seen a worldwide economic collapse that would have demolished the global economy. Even now we have more than 10% of our people recently unemployed. The total number of people unemployed is more like almost twice as many. To say that nothing should be done and that everything will take care of itself is something I have a very difficult time understanding. It is just like after a train crash, you have to go in and try to save lives, bury the dead, clear the tracks, replace equipment, and perhaps make improvements especially wrt safety. Money has to come from somewhere. If money is not there, someone would have to go and borrow the money. But I agree, you have to carefully spend borrowed money. You have to make sure there is no looting. To do nothing and rely on the magic of some invisible hand is unthinkable. It is loony.