tag:blogger.com,1999:blog-294973891798791948.post5844701553476117784..comments2023-10-24T05:48:31.117-07:00Comments on Frank Chow: Asian- American Political Pundit: History Be Not IgnoredUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-294973891798791948.post-13928352284048839072010-07-20T08:16:32.332-07:002010-07-20T08:16:32.332-07:00I suspect the big difference is that in the last t...I suspect the big difference is that in the last three recoveries we had either a Republican president or a high and rising deficit. If we didn't have such a huge debt it would be easier to justify spending some money in the short run because we'd not be digging that big of a hole. But when the hole is already quite large digging a little deeper meets stronger resistance.<br /><br />Having said that, the irony here is that if we spent that money it would boost GDP and we'd end up having higher tax revenue down the line that would help offset the expense. But no, instead, we languish. Worse, the unemployment rate is one of the key things that makes people think of a possible double-dip. Whether we do that or not, people fearing that possibility aren't spending money and slowing recovery.Stevehttps://www.blogger.com/profile/03354491286935701887noreply@blogger.com