Sunday, April 17, 2011

Paying For BO

Phil Gramm: The Obama Growth Discount -

If somebody hadn't screwed up the recovery, history tells us we would be way better off by now. BO and the Democrats actually looked at the tea leaves in spring '09 and felt that the economy would move into growth with no extra spending -- they just decided to shower their cronies with a Trillion in extra spending primarily as a political payback, and with idea that "it can't do anything but help".

Most folks discover drunken disaster and hangovers in young adulthood -- apparently BO is still of the "if some is good, more is better"philosophy.

If we had matched the 1982 recovery rate, today annual per-capita income would be $4,154 higher than before the recession—that's an extra $16,600 for a family of four—and some 15.7 million more Americans would have jobs. That's enough jobs to employ 100% of the 13.5 million Americans currently classified as unemployed. In addition, we would have provided jobs for 30% of both the 2.4 million discouraged or marginally attached workers and the 4.8 million who have totally dropped out of the work force since January 2008.

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