More than any one else, German scientist Werner von Braun put America on the moon with his ginormous rockets … and understanding of rocket science.
Anyway, that was back when America was a capitalist country, too, and when the public debt was only $380 billion (or 37.6% of the nation’s gross domestic product).
Remember those days? Yeah … we didn’t think so.
Today, the “good ole U.S. of A” might as well be a socialist oligarchy, although it won’t be one for long if things keep moving down their current path. For example, our nation will have a $14.1 trillion debt next year that will represent 98.1% of our GDP – nearly a third of which was accumulated in the last year to fix a “recession” that – despite government’s claim to the contrary – ain’t over.
In fact, there’s more bad news on the employment front this week as more Americans filed for unemployment benefits than economist expected.
From Bloomberg:
Economists project the unemployment rate will reach 10 percent by the first quarter of 2010, underscoring the risk to consumer spending, the biggest part of the economy. Companies cutting costs remain reluctant to hire, even as they’ve eased dismissals from levels seen earlier this year.
“Until demand turns around, businesses have to continue to cut costs,” said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc., a New York forecasting firm. “We remain pessimistic on consumer spending.”
So do we, Mr. Shapiro. So do we.
Here’s the thing, people.
Government passed an “economic stimulus” earlier this year, except – as we noted – none of it actually went to stimulating anything but government growth.
In fact, look at the trillions of dollars government has spent, lent or pledged over the last two years and you’ll see that hardly any of it has gone to the American consumer.
Wall Street got bailed out, sure. State and local governments got bailed out, too. Fannie and Freddie? Yup, them too.
But did you get bailed out?
We didn’t think so.
This stuff isn’t rocket science, people. You put money in the people’s pockets and then you get out of the way and watch it grow …
By Nathan Rice October 22, 2009 at 10:23 am
You put money in the people’s pockets and then you get out of the way and watch it grow
I think you may have meant “You leave money in the people’s pockets …”
By Jonny D October 22, 2009 at 10:37 am
“Vunce de vrockets go up, who cares vhere dey come down, dats not my department”, said Werner von Braun.
By tradd October 22, 2009 at 10:43 am
Mr. Obama surrounds himself with a coterie of Marxist-leaning, Mao-admiring globalists.
The “stimulus” was about robbing the individual of wealth and power and investing that wealth and power in the “state.”
Remember, Marxists elevate the “state” over the “individual.”
You ain’t seen nuthin’ yet, baby1!
By Wes Wolfe October 22, 2009 at 10:50 am
Von Braun came to America to build rockets like so many other former Nazi, er, German, scientists did — they wanted no part of the hell the Soviets would put them through before asking them to build rockets for the USSR. Economics had nothing to do with it — civil liberties and paranoid top-level military and civilian officials did. What exactly did you learn in your pricey private schools?
By fitsnews October 22, 2009 at 10:51 am
Nathan,
Good point. Tax cuts are indeed leaving money in people’s pockets that the government would otherwise be taking.
Excellent semantic observation.
-FITS
By sid October 22, 2009 at 1:19 pm
Wes,
Maybe I’m missing something, but I don’t see anything in the article that suggests Von Braun came here because of economics. The Von Braun reference was simply a device used to introduce the idea that fixing the economy is not difficult (i.e., not as difficult as the science of launching ginormous objects into the air). Aren’t you supposed to make your name/money out of a presumed understanding of literary devices? You know, you’re a writer, right? Or was reading comprehension not taught in whatever-it-was-you-attended?
FITS,
“[M]ore Americans than expected filed…than economist expected.” I think you need to drop your first “than expected.”
By Ynot October 22, 2009 at 2:49 pm
http://www.youtube.com/watch?v=pybbrBTndVc
also History Channel debunked the myth about two and a half months ago. Where you been?
Man on D Moon HAHAHAHAHAA
( I formerly thought we did- but no more.)
By Old Bike Dude October 22, 2009 at 4:18 pm
Hey tradd, pssst, comere…who was your boy W surrounding himself with when he was doling out all our cash? Stupid is as stupid does, got that.
By Ronbo October 22, 2009 at 6:11 pm
Werner Von Braun arrived in the US (thanks to Operation Paperclip, the brainchild of a Democrat in the White House) in 1946, when US debt was 121% of GDP. See: http://www.usgovernmentspending.com/federal_state_local_debt_chart.html
And then we spent more on socialist programs like the GI Bill (all of society paying for a free college education, at any school the vet could get in to, millions of them, now that’s socialism), along with another new socialist program called social security. What followed was a period of great prosperity and economic growth – as you call it, the good old days.
Since WWII, unemployment has risen under five presidents – four of them Republican (both Bushes, Ford and Reagan).
Kind of blows up your theory about debt, prosperity, socialist programs, and which party in the White House brings job growth.
By Ronbo October 22, 2009 at 6:16 pm
Oh, and for the folks who think Obama is Marxist leaning (the guy who didn’t nationalize anything), or surrounded by people who admire chairman Mao: guess who recommended a biography of Mao: George Bush, to Karl Rove.
http://online.wsj.com/article/SB123025595706634689.html
Guess Bush was a commie, eh?
By sid October 22, 2009 at 11:56 pm
Ronbo,
Surely you’re not that stupid. Unemployment has “risen” under every president. It tends to go up and down, which is called fluctuation. Under Reagan, the rate started high, went higher, but ended lower when he left office. So, yes, it rose, but then it came down. Clinton had ups and downs, as did Carter, Johnson, Kennedy, and Truman. Barry is having nothing but ups, right now. What’s your point? That you love defending socialists who don’t have the balls to admit they are socialists? I’m gonna go out on a limb and just say all your statements are either intentionally misleading, lies, or just drunken ramblings, based solely on your Reagan example.
By tradd October 23, 2009 at 12:11 am
Thanks for the cherry-picked history lesson Pat.
Does anyone believe that Obama’s take-over of GM, the banks, and health care will usher economic growth in America on par with the Post WWII period of prosperity?
Keep dreaming.
BTW, we’ve hemorrhaged over 7 million jobs since last January.
Obama is looking more and more clueless every day.
Maybe we should just ditch the dollar and embrace a new world currency.
Right, Mr. Soros?
By Mike October 23, 2009 at 4:41 am
Sid- Wolfe is not a writer…just a hack.
By Old Bike Dude October 23, 2009 at 6:59 am
Notice: Talk radio makes you stupid. Just read some of the idiot right wing post on this thread.
By sid October 23, 2009 at 10:28 am
OBD,
I see you’ve got your DNC-approved talking points. I generally like bikers, so I guess I should just feel sad for you. You’ve clearly laid it down once too often. I know it’s too late, but someone should have told you to wear a bucket, or leave the training wheels on.
By tradd October 23, 2009 at 10:36 am
Sid,
Ruthless, man. Just plain ruthless.
By Hey, nonny, nonny October 23, 2009 at 10:59 am
Notice: Old Bike Dude just read the FITSNews post on marijuana and probably felt inspired to indulge. That’s why nearly all his posts contain incoherent, rambling accusations about the Vast Right Wing Conspiracy. What’s wrong, OBD…Puff the Magic Dragon not treating you very nicely today?