Bill Milligan writes: “Ha. In 1980, the entirety of the national debt, after about one hundred and fifty years of accumulation through an internal war, two world wars, three other major wars, dozens of smaller conflicts, the new deal, the square deal, the great society, and of course hosting Elvis at the White House in 1972, amounted to a mere $930 Billion — barely more than half of our wondrous new deficit.”
2:09 pm on February 26, 2009
Email Anthony Gregory
And by 2008 it had increased by about two-thirds, to around $3 trillion, not counting the explosion in spending over the last two months. Dub-Yuh was a bigger domestic spender than even Lyndon Johnson was, and started two wars compared to Johnson’s one. In other words, there was already an explosion of government spending long before the current “stimulus” scam.
This proves once again that government spending does not “stimulate” but depress economic activity. The bigger the government “stimulus” the worse off the real, private economy is. All that is stimulated is the overblown egos of the crooks, conmen and tyrants in Washington, along with the ideological devotes of Obammunism.
5:15 pm on February 26, 2009
Email Thomas DiLorenzo