Thursday, June 11, 2009

American wealth down $1.3 trillion

According to the Associated Press, "American households lost $1.33 trillion of their wealth in the first three months of the year as the recession took a bite out of stock portfolios and dragged down home prices."

Hmmm, and all this time I thought the Obama/Democrat stimulus package was supposed to improve the economy!

When the stimulus package was proposed we were told that the economy absolutly had to be stimulated immediately to avoid dire consequences. It was so urgent that no one in Congress even had time to read the bill!

So why has the economy not been stimulated? Why has it not even begun to turn around?

You can argue, of course, that the economy would have been much worse were it not for the stimulus, but that is an empty argument. It would be like saying that if George Bush had not invaded Iraq, Saddam Hussein would have had WMD by this time. It is nothing more than a baseless assertion. And if the economy doesn't pick up next quarter, or next year, Obamaniacs could (and will) still argue the same thing--that the economy would have been worse.

If we do not see a significant and sustained upturn in the economy, at what point will you determine that the stimulus did not work? Next quarter? Next year?

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