Jul. 13th, 2011

winterbadger: (coffee cup)

Enjoyed the Diane Rehm Show this morning. DR called out one of her guests on using the term "Obamacare", and when one ultra-business participant said the federal stimulus spending was a failure because no businesses would be foolish enough to use stimulus money to fund expansion, one of the others came up with a major US company--ALCOA--off the top of his head who had done just that.

We needed (still need) a better focused and LARGER stimulus program. The problem was not that it was put in place, but that it was too late and too small. Even so, it helped. We need more government spending *sensibly targeted*, not less.

Two of the participants also debunked the myth that the same pro-business presenter put forward, the old lie that cutting taxes and reducing regulation creates jobs, by pointing out that no such job growth occurred during the pro-business Bush administration that did both of these things, while during the Clinton and Reagan presidencies, taxes had been high and job growth had boomed

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