Even Goldman Sachs

Thinks the GOP economic policies would be harmful to our economy:

A confidential Goldman Sachs report, which was obtained by ABC News, argues that the spending cuts passed last week by the House of Representatives would be a drag on the economy, cutting economic growth by about two percent of GDP.

The Financial Times quotes Sen. Chuck Schumer (D-NY): "This nonpartisan study proves that the House Republicans' proposal is a recipe for a double-dip recession. Just as the economy is beginning to pick up a little steam, the Republican budget would snuff out any chance of recovery. This analysis puts a dagger through the heart of their 'cut-and-grow' fantasy."

What Goldman nor Comrade Schumer understand is that the Tax Cut Fairy simply starts growth with the wave of her wand. It's just that wand has been broken the last ten years or so, but when she's got it back and working...BOP! Economic awesomeness with glitter, golden toilets and and and more money for rich people! Stupid morons and their numbers. GDP is irrelevant when the Tax Cut Fairy is involved.

Somewhere in this report are numbers which Fox News can fix...

I am Frank Chow and I approved this message

Comments

Asian-American Pundit said…
It's pretty impressive how ignorant of history one has to be to make proposals like they do.
February 23, 2011 at 3:10 PM
Steve said…
People have short memories. Nobody in government today really lived through the Great Depression. I mean if you were born in the early 30's, you're in your 80's now. So of course nobody is there to say, "I've seen where this goes"

Also I think that a lot of the safety nets we put in place in the great depression and after helped take the edge off this recession. People at the bottom still feel a lot of pain but it didn't spread everywhere. We still had things like unemployment to help get people through.
February 23, 2011 at 3:16 PM
Asian-American Pundit said…
Yes, somehow though I'd wish our friends across the aisle would read up and realize that said safety nets didn't fall from the sky.

Although I've read a lot of right wing blogs claiming the New Deal and FDR were teh devil....
February 23, 2011 at 3:19 PM
Steve said…
I'm a long term optimist and a short term pessimist. I believe when our back is really against the wall, we'll fix things, but we have a nasty habit of always waiting until that last minute.

At least in 37 they could claim ignorance because they had no experience in dealing with that kind of situation. Not so in 2011.
February 23, 2011 at 3:21 PM
Asian-American Pundit said…
Yeah I'm with you there. It's rather frustrating to see this all unfold. We do have textbooks and such. Also too, the History Channel.
February 23, 2011 at 3:38 PM
Steve said…
You mean the liberal propaganda channel???
February 23, 2011 at 5:43 PM
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