zFacts: The Market Says Stimulus Is the Answer

The outcome of conservative austerity economics

"We are now headed into the worst slump since 1938, and you better hope Obama can fix it because that was not a pretty time. Unfortunately, as in the Great Depression, the extreme conservatives would rather trash the country than have our government succeed. They are much worse than Bush.

The main thing to remember is that, with consumer spending going down, business is going to lay people off—not hire them. You can't blame business for this. It's just a vicious cycle that the economy gets into. And you can't blame consumers for not spending in bad times.

The only way out of this, if we don't want to wait 10 years, is for the government to spend, pay unemployment insurance, or give tax breaks to people who will spend (not the rich). 

Of course there's also the problem of the banks. Obama should stop saving the bankers, and just take over the bad banks. Once they're working they can be sold back to the private sector."

see The Market Says Stimulus Is the Answer:

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Austerity chokes business and government

The European governments tried austerity and the US economy with its its stimulus outperformed the euro zone.

For the past two years, the 112th congress has passed a record low of 75 bills and reduced spending to slow the economic recovery in the US.

Perhaps the aim was make Presidnet Obama look bad. The 112th Congress was rated with a 17 per cent overall favorability rating when it went out-of-session.

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We caused what!

Republicans caused both the Great Depression and the Great Recession.

Republicans are now trying to hang the economic difficulties in the US on Obama.

However, the US economy is doing better than the one in the euro zone because the US used an economic stimulus.

European conservatives followed an austerity path that was less successful.

Mitt Romney preaches austerity, but he knows that it will not work.

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Daily Kos: White House urges press not to buy into 'B.S.' Republican talking points about Obama spending

Rightardia has posted several charts that explains that most of the spending of the Obama administration originated in the Bush administration.

The GOP is now running ads that suggest spending is out of control.

Does anyone really believe the GOP will get spending under control without severe austerity measures that will damage social programs while increasing defense spending?

Austerity measures failed in Europe and the Romney campaign know this.

Romney has surrounded himself with foreign policy hawks who will want big increases in defense spending.

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Bloomberg: CBO warning

May 23 (Bloomberg) -- The nonpartisan Congressional Budget Office said May 22 the U.S. economy could be thrown back into recession in early 2013 if the slated across-the-board spending cuts and expiration of the Bush-era tax cuts take place as scheduled.

Michael McKee reports on Bloomberg Television's "Bottom Line."

Undoubtedly the Republicans will spin this information differently than the Democrats. Rightardia is skeptical that tax cuts that primarily affect the most affluent Americans like the estate tax will put a drag on the economy. 


We do no form the recent European experience with austerity that it does not work. 

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NMA: French ditch austerity

France’s first Socialist president in 17 years.  François Gérard Georges Nicolas Hollande defeated incumbent Nicolas Sarkozy on promises to reassess austerity deals aimed at solving Europe’s financial crisis in favor of pro-growth remedies, and to increase taxes for the rich.

The results of the French presidential election were echoed in Greece, where voters also punished pro-austerity parties in the polls, and are a major rejection for Franco-German led belt-tightening under former French president Nicolas Sarkozy and German Chancellor Angela Merkel.

Is the end of “Merkozy,” the Franco-German partnership that has enforced the austerity regime, a good thing?

Angela Merkel's party also suffered legislative defeats and a socialist leader may take over Greece. 


Some Democrats are concerned about these elections since incumbents are being turned out, but the real issue is that voters have rejected conservative austerity.


President Obama needs to explain this to the American people. His economic stimulus outperformed the austerity mavens in Europe. 


Who wants to cut spending and use "austerity" to fix the economy? That would be Mittens.


Of course, Republicans rarely cut defense, so America can expect  big cuts to Medicare, Food Stamps and Social Security while the Bush tax cuts are continued if Mittens gets the nod in November.

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Mark Fiore: How's that austerity working for you?

The reason the US economy is doing better than the EU economy is because of the Obama economic stimulus.

The Europeans chose austerity.

Conservative European politicians have been taking a bruising since then.

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Linbaugh: "Get Rid Of Everything Obama's Done And Simply Go Back To America The Way It Was"

In other words, throw the baby out with the bath water and return America to the Bush economy.

Of course, it was the Bush Ownership Society that created most of the problems that ran America off the road and into the ditch in the first place.

Of interest, the US economy is recovering faster than the European because of the Obama economic stimulus.

The Europeans used an austerity approach that has ousted conservative governments which has been replaced with newly elected socialist leaders in France and Greece.


If the Bush economy was so great. why isn't the former president stumping for Mittens?

Bush, of course, is an embarrassment and liability to the GOP. GW Bush hasn't even endorsed Mitt Romney.

We wonder if GW Bush will even be at the GOP National convention in Tampa!

If the former president does show, Rightardia would expect at best a brief appearance.

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