BloggersBase - Comments for article Obama Praises Trickle-Down Economics! Huh?

By Jud

Sat, 14 Mar 2009 11:28:20 GMT

Maybe it's too quick to judge his actions?

By anonymous in response to Jud

Sat, 14 Mar 2009 13:16:30 GMT

I don't think so. He blasted McCain and the Republicans for trickle down for more than two years. Now it work because the government is the one doing the spending? Where did that come from?

By InvestaMania

Tue, 26 May 2009 22:41:51 GMT

jmalmberg,

I believe we clash once more.

First, you're confusing trickle-down economics with the multiplier effect.

I feel like you're twisting the true definition of "trickle-down" economics and what it really means. Your classic examples involves, if you want to refer to econ 101 textbooks like you did in your post, giving tax breaks to the very rich because it will "trickle-down" to everyone else.

THAT's THE TRICKLE DOWN ECONOMICS OBAMA DID NOT SUPPORT.

What he is doing now is different. (First, everything "TRICKLES DOWN" or spreads...it's called the multiplier effect). He is saying that he is directly giving funds to certain people which will thus affect their communities (The money will trickle to the community, spread, will multiply, etc). It's more certain (or expected) that the $500,000 you give firefighters will flow through out the local economy than a CEO that spends it on a trip to Bermuda.

And in regards to Obama breaking promises, give me a break. The guy can't make pigs fly, but he has done a lot already.

All the executive orders he has signed,the promised middle class tax cuts, and the AMOUNT of earmarks relative to other budgets have changed.

Plus, think reality here,because you are taking things out of context. The budget, in general, is the way he wants, you want him to veto it and send it back? PEOPLE COMPLAIN THAT THE MONEY IS ALREADY SEMI LATE and you want him to extend the approval time? Lastly, on an absolute level the number may seem big but on a RELATIVE basis in regard to the budget size, it is not.

Has there BEEN A DECREASE? Maybe it will reach 0 by the end of his 4 years. I believe you are being to quick to pass judgement here because of your political biases.

Obama has been living up to his promises, not to perfection, but may I ask, who's perfect?

And do I need to start a comparison war to George Garbage Bush AND

By jmalmberg in response to InvestaMania

Wed, 27 May 2009 14:28:04 GMT

Going back to econ 101, government spending is half as effective at economic expansion as spending that comes from the private sector. That means that the CEO spending money on his vacation will do more for the economy than any comperable spending by the goverment. It will keep travel agents employed. Give money to the airline - which employs people. Pay for restraunt bills, hotel bills, tourist trap bills - all of which keep private sectore employees working.

The vast majority of government spent money actually goes to cover administrative costs and never reaches its intended target. Education is an outstanding example of this. The more the federal government spends on it, the worse test scores become. You don't have to believe me. Just go back and actually look at the test data from the early 1960's and compare it to today. The numbers don't lie. You can keep a child in private school for $6,000 or so per year, but the government now spends more than $10,000 per child for public schools and they get awful results.

Obama is funneling money into government programs. You can't do this and expect economic growth. Government workers don't contribute to economic growth; they detract from it. The simple truth is that you can't tax your way to prosperity. That is what he is attempting to do.

I'm not twisting anything here. These were Obama's words, not mine. He's the one who used the phrase, not me. And he did it to justify big taxes and big spending.

And for the record, yes I do want him to hold up legislation until it can be read and understood. My tax dollars are paying the wages of these idiots that tax me to death and limit my freedoms. I don't think it is too much to ask that they actually read the bills that they pass before they are signed into law. In fact, not doing so demonstrates gross incompetence.