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Check your own facts there dude .... You only provided 1 source to support your arguement .(3 of your links don't work BTW).. the Congressional Budget Office! The line up of promenant economists, both Dems and Reps, calling for a stimulus package is a mile long. Not only that, most promenant business leaders agree also! Further, what do you think the rest of the free world is trying to do to their economies?
Would you have us believe that virtually everybody is wrong and someone at the CBO is the only one that is right! LMAO. I suppose you think Congress has a good track record of spending tax payer dollars and getting value for them too LMAO!
I cited the CBO because you kool-aid drinkers usually tout it as non-partisan. /ubbthreads/images/graemlins/smiliesmack.gif
How about
Dr T. Sowell,
Dr Williams,
Dr. Mundell (Nobel prize winner),
John Huizinga,
Kevin M. Murphy,
Robert Lucas,
more Lucas .
Here's a great discussion by several of these Nobel laureates, long (an hour), but worth watching.
William Poole, former president of the Federal Reserve Bank of St Louis says, "Government spending can't lead the way to sustained recovery, because its stimulating effect will be offset by anticipated higher taxes and the need to finance the deficit."
Robert Barro, Harvard University, said of the Obama fiscal stimulus proposal, "This is probably the worst bill that has been put forward since the 1930s. I don't know what to say. I mean it's wasting a tremendous amount of money. It has some simplistic theory that I don't think will work ... I don't think it will expand the economy ... It's more along the lines of throwing money at people ... I think it's garbage."
John Cochrane, University of Chicago, says "It's not part of what anybody has taught graduate students since the 1960s … They are fairy tales that have been proved false (Keynseian Economics). It is very comforting in times of stress to go back to the fairy tales we heard as children but it doesn't make them less false. To borrow money to pay for the spending, the government will issue bonds, which means investors will be buying US Treasuries instead of investing in equities or products, negating the stimulative effect."
Edward Prescott, Arizona State University, (won a Nobel prize for economics in 2004 for his study on business cycles) says of government stimulus packages, "Massive government spending likely lengthened the economic struggles each time. Economists in the field are deeply divided on the issue of federal stimulus … I don't know why Obama said all economists agree on this. They don't. If you go down to the third-tier schools, yes, but they're not the people advancing the science."
Eugene Fama, University of Chicago, stated: "Bail-outs and stimulus plans are funded by issuing more government debt. (The money must come from somewhere!) The added debt absorbs savings that would otherwise go to private investment. In the end, despite the existence of idle resources, bail-outs and stimulus plans do not add to current resources in use. They just move resources from one use to another."
I apologize for only citing one source, and I'm doing my best to make up for it, especially after you went the the trouble to cite so many sources for
your points. Oh that's right, I cited one and you cited...ZERO.
I'll let you google them and find their specific thoughts, but here's just a couple more prominent economists who opposed the stimulus plan.
BURTON ABRAMS, Univ. of Delaware, DOUGLAS ADIE, Ohio University, LEE ADKINS, Oklahoma State University, WILLIAM ALBRECHT, Univ. of Iowa, RYAN AMACHER, Univ. of Texas at Arlington, J.J.ARIAS, Georgia College & State University, HOWARD BAETJER, JR., Towson University, CHARLES BAIRD, California State University, East Bay,, STACIE BECK, Univ. of Delaware, DON BELLANTE, Univ. of South Florida, JAMES BENNETT, George Mason University,, BRUCE BENSON, Florida State University, SANJAI BHAGAT, Univ. of Colorado at Boulder, MARK BILS, Univ. of Rochester, ALBERTO BISIN, New York University, WALTER BLOCK, Loyola University New Orleans, CECIL BOHANON, Ball State University, MICHELE BOLDRIN,Washington University in St. Louis, DONALD BOOTH, Chapman University, MICHAEL BORDO, Rutgers University, SAMUEL BOSTAPH, Univ. of Dallas, DONALD BOUDREAUX, George Mason University, SCOTT BRADFORD, Brigham Young University, GENEVIEVE BRIAND, Eastern Washington University, IVAN BRICK, Rutgers University, GEORGE BROWER, Moravian College, PHILLIP BRYSON, Brigham Young University, JAMES BUCHANAN, Nobel laureate, RICHARD BURDEKIN, Claremont McKenna College, RICHARD BURKHAUSER, Cornell University, EDWIN T. BURTON, Univ. of Virginia, JIM BUTKIEWICZ, Univ. of Delaware, HENRY BUTLER, Northwestern University, WILLIAM BUTOS, Trinity College, PETER CALCAGNO, College of Charleston, BRYAN CAPLAN, George Mason University, ART CARDEN, Rhodes College,JAMES CARDON, Brigham Young University, DUSTIN CHAMBERS, Salisbury University, EMILY CHAMLEE-WRIGHT, Beloit College, V.V. CHARI, Univ. of Minnesota, BARRY CHISWICK, Univ. of Illinois at Chicago, LAWRENCE CIMA, John Carroll University, J.R. CLARK, Univ. of Tennessee at Chattanooga, GIAN LUCA CLEMENTI, New York University, R.MORRIS COATS, Nicholls State University, JOHN COCHRAN, Metropolitan State College at Denver, JOHN COCHRANE, Univ. of Chicago, JOHN COGAN, Hoover Institution, Stanford University, LLOYD COHEN, George Mason University, JOHN COLEMAN, Duke University, BOYD COLLIER, Tarleton State University, ROBERT COLLINGE, Univ. of Texas at San Antonio, , PETER COLWELL, Univ. of Illinois at Urbana-Champaign MICHAEL CONNOLLY, Univ. of Miami, LEE COPPOCK, Univ. of Virginia,MARIO CRUCINI, Vanderbilt University, CHRISTOPHER CULP, Univ. of Chicago, KIRBY CUNDIFF, Northeastern State University, ANTONY DAVIES, Duquesne University, JOHN DAWSON, Appalachian State University, A. EDWARD DAY, Univ. of Texas at Dallas, CLARENCE DEITSCH, Ball State University, ALLAN DESERPA, Arizona State University, WILLIAM DEWALD, Ohio State University, ARTHUR DIAMOND, JR., Univ. of Nebraska at Omaha, JOHN DOBRA, Univ. of Nevada, Reno, JAMES DORN, Towson University, CHRISTOPHER DOUGLAS, Univ. of Michigan, Flint, FLOYD DUNCAN, Virginia Military Institute, FRANCIS EGAN, Trinity College, JOHN EGGER, Towson University, KENNETH ELZINGA, Univ. of Virginia, PAUL EVANS, Ohio State University, FRANK FALERO, California State University, Bakersfield, EUGENE FAMA, Univ. of Chicago, W. KEN FARR, Georgia College & State University, DANIEL FEENBERG, National Bureau of Economic Research, HARTMUT FISCHER, Univ. of San Francisco, ERIC FISHER, California State Polytechnic University, FRED FOLDVARY, Santa Clara University, MURRAY FRANK, Univ. of Minnesota, PETER FRANK,Wingate University TIMOTHY FUERST, Bowling Green State University, B. DELWORTH GARDNER, Brigham Young University, JOHN GAREN, Univ. of Kentucky, RICK GEDDES, Cornell University, AARON GELLMAN, Northwestern University, WILLIAM GERDES, Clarke College, JOSEPH GIACALONE, St. John’s University, MICHAEL GIBBS, Univ. of Chicago, OTIS GILLEY, Louisiana Tech University, STEPHAN GOHMANN, Univ. of Louisville, RODOLFO GONZALEZ, San Jose State University, RICHARD GORDON, Penn State University, PETER GORDON, Univ. of Southern California, ERNIE GOSS, Creighton University, PAUL GREGORY, Univ. of Houston, EARL GRINOLS, Baylor University, DANIEL GROPPER, Auburn University, R.W. HAFER, Southern Illinois University, Edwardsville, ARTHUR HALL, Univ. of Kansas, STEVE HANKE, Johns Hopkins University, STEPHEN HAPPEL, Arizona State University, RICHARD HART, Miami University, THOMAS HAZLETT, George Mason University, FRANK HEFNER, College of Charleston, SCOTT HEIN, Texas Tech University, RONALD HEINER, George Mason University, DAVID HENDERSON, Hoover Institution, Stanford University, ROBERT HERREN, North Dakota State University, GAILEN HITE, Columbia University, STEVEN HORWITZ, St. Lawrence University, DANIEL HOUSER, George Mason University, JOHN HOWE, Univ. of Missouri, Columbia, JEFFREY HUMMEL, San Jose State University, BRUCE HUTCHINSON, Univ. of Tennessee at Chattanooga, BRIAN JACOBSEN,Wisconsin Lutheran College, SHERRY JARRELL,Wake Forest University,JASON JOHNSTON, Univ. of Pennsylvania, BOYAN JOVANOVIC, New York University, JONATHAN KARPOFF, Univ. of Washington, BARRY KEATING, Univ. of Notre Dame, NAVEEN KHANNA, Michigan State University, NICHOLAS KIEFER, Cornell University, DANIEL KLEIN, George Mason University, PAUL KOCH, Univ. of Kansas, NARAYANA KOCHERLAKOTA, Univ. of Minnesota, MAREK KOLAR, Delta College, ROGER KOPPL, Fairleigh Dickinson University, KISHORE KULKARNI, Metropolitan State College of Denver, DEEPAK LAL, UCLA, GEORGE LANGELETT, South Dakota State University, JAMES LARRIVIERE, Spring Hill College, ROBERT LAWSON, Auburn University, JOHN LEVENDIS, Loyola University New Orleans,DAVID LEVINE,Washington University in St. Louis, PETER LEWIN, Univ. of Texas at Dallas, W. CRIS LEWIS, Utah State University DEAN LILLARD, Cornell University, ZHENG LIU, Emory University, ALAN LOCKARD, Binghampton University, EDWARD LOPEZ, San Jose State University, JOHN R. LOTT, Jr., Univ. of Maryland, JOHN LUNN, Hope College, GLENN MACDONALD,Washington, University in St. Louis, HENRY MANNE, George Mason University, MICHAEL MARLOW, California, Polytechnic State University, DERYL MARTIN, Tennessee Tech University, DALE MATCHECK, Northwood University, JOHN MATSUSAKA, Univ. of Southern California, THOMAS MAYOR, Univ. of Houston, DEIRDRE MCCLOSKEY, University of Illinois at Chicago, JOHN MCDERMOTT, Univ. of South Carolina, JOSEPH MCGARRITY, Univ. of Central Arkansas, ROGER MEINERS, Univ. of Texas at Arlington, ALLAN MELTZER, Carnegie Mellon University, JOHN MERRIFIELD, Univ. of Texas at San Antonio, JAMES MILLER III, George Mason University, JEFFREY MIRON, Harvard University, THOMAS MOELLER, Texas Christian University, JOHN MOORHOUSE,Wake Forest University, ANDREA MORO, Vanderbilt University, ANDREW MORRISS, Univ. of Illinois at Urbana-Champaign, MICHAEL MUNGER, Duke University, KEVIN MURPHY, Univ. of Southern California, DAVID MUSTARD, Univ. of Georgia, RICHARD MUTH, Emory University, CHARLES NELSON, Univ. of Washington, WILLIAM NISKANEN, Cato Institute, SETH NORTON, Wheaton College, LEE OHANIAN, UCLA, LYDIA ORTEGA, San Jose State University, EVAN OSBORNE, Wright State University, RANDALL PARKER, East Carolina University, ALLEN PARKMAN, Univ. of New Mexico, DONALD PARSONS, George Washington University, SAM PELTZMAN, Univ. of Chicago, TIMOTHY PERRI, Appalachian State University, MARK PERRY, Univ. of Michigan, Flint, CHRISTOPHER PHELAN, Univ. of Minnesota, GORDON PHILLIPS, Univ. of Maryland, MICHAEL PIPPENGER, Univ. of Alaska, Fairbanks, TOMASZ PISKORSKI, Columbia University, BRENNAN PLATT, Brigham Young University, JOSEPH POMYKALA, Towson University, WILLIAM POOLE, Univ. of Delaware, BARRY POULSON, Univ. of Colorado at Boulder, BENJAMIN POWELL, Suffolk University, EDWARD PRESCOTT, Nobel laureate, GARY QUINLIVAN, Saint Vincent College, REZA RAMAZANI, Saint Michael’s College, ADRIANO RAMPINI, Duke University, ERIC RASMUSEN, Indiana University, MARIO RIZZO, New York University, NANCY ROBERTS, Arizona State University, RICHARD ROLL, UCLA, ROBERT ROSSANA,Wayne State University, JAMES ROUMASSET, Univ. of Hawaii at Manoa, JOHN ROWE, Univ. of South Florida, CHARLES ROWLEY, George Mason University, JUAN RUBIO-RAMIREZ, Duke University, ROY RUFFIN, Univ. of Houston, KEVIN SALYER, Univ. of California, Davis, THOMAS SAVING, Texas A&M University, PAVEL SAVOR, Univ. of Pennsylvania, RONALD SCHMIDT, Univ. of Rochester, CARLOS SEIGLIE, Rutgers University, ALAN SHAPIRO, Univ. of Southern California, WILLIAM SHUGHART II, Univ. of Mississippi, CHARLES SKIPTON, Univ. of Tampa, JAMES SMITH,Western Carolina University, VERNON SMITH, Nobel laureate, LAWRENCE SOUTHWICK, JR., Univ. at Buffalo, DEAN STANSEL, Florida Gulf Coast University, HOUSTON STOKES, Univ. of Illinois at Chicago, BRIAN STROW,Western Kentucky University, SHIRLEY SVORNY, California State University, Northridge, JOHN TATOM, Indiana State University, WADE THOMAS, State University of New York at Oneonta, HENRY THOMPSON, Auburn University, ALEX TOKAREV, The King’s College, EDWARD TOWER, Duke University, LEO TROY, Rutgers University, WILLIAM TRUMBULL,West Virginia University, DAVID TUERCK, Suffolk University, CHARLOTTE TWIGHT, Boise State University, KAMAL UPADHYAYA, Univ. of New Haven, CHARLES UPTON, Kent State University, T. NORMANVAN COTT, Ball State University, RICHARD VEDDER, Ohio University, RICHARD WAGNER, George Mason University, DOUGLAS M.WALKER, College of Charleston, DOUGLAS O.WALKER, Regent University, MARC WEIDENMIER, Claremont McKenna College, CHRISTOPHER WESTLEY, Jacksonville State University, ROBERT WHAPLES,Wake Forest University, LAWRENCE WHITE, Univ. of Missouri at St. Louis, WALTER WILLIAMS, George Mason University, DOUG WILLS, Univ. of Washington Tacoma, DENNIS WILSON,Western Kentucky University, GARY WOLFRAM, Hillsdale College, HUIZHONG ZHOU,Western Michigan University
Check your facts Dude.
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