Comment Of The Day

From Reason:

"The propaganda, initially, was that the stimulus would maintain enough jobs to get through the bad patch, which would subsequently stimulate greater aggregate spending that would result in more jobs and thus, a return to pre-recession levels.

The propoganda AFTER the stimulus was that the economy would have been a lot worse without it, and that it helped maintained the 2007 status quo. The latter, in particular, begs the question that the status quo should have been maintained in the first place.

The reality is that the Obama administration, in conjunction with the Fed, completely misread the fundamental cause of what is turning into Great Depression II (with food stamps and a steadily dropping labor participation rate replacing bread and soup lines)--speculating that it was due to a lack of liquidity rather than gross systemic debt. Rather than take measures to encourage measures that would reduce the latter, they made a hedge bet that this was a "normal" recession and that throwing funny money at the problem would paper things over long enough for the economy to right itself.

They lost that bet, and the only things keeping Obama from being completely routed this year are his fanatically loyal personality cultists and his Team Red doppelganger on the other side."

I read that food stamps are at an all-time high.