Comment

GOP Leaders Urge Bernanke to Keep Unemployment High

184
chunkymonkey9/21/2011 2:18:39 pm PDT

re: #178 engineer dog

suppose we decide to invade another country and it turns out that it costs a trillion dollars over ten years and doesn’t accomplish what we set out to do? suppose we pass a law lowering taxes on americans but it turns out that it doesn’t provide the economic stimulus it was supposed to and instead burns a trillion dollar hole in the federal budget?

do we just continue to do the same thing over and over and hoping for a different result?

Well, that would be a bad idea obviously, to invade another country. But OK, suppose we did invade the other country with the commensurate result you indicate above that hasn’t yet accomplished what we set out to do. Should we continue to do the same things over and over? If we decided that the goal had to be accomplished, then we’d be stuck doing something.

But I didn’t ask “should we keep trying to get the economy turned around.” I only asked that if we were to try to turn the economy around and bring back the jobs through economic stimulus spending, should there be a limit to the spending? Nobody can seem to answer this question. I think there should be a limit, but I don’t know enough about the economy to know what that limit should be.