Republicans: Everything they know is wrong | Wis.Community

Republicans: Everything they know is wrong

I'm swiping a line from Firesign Theatre (originally, "Eveyrhing you know is wrong") to define Republicans by their now habitual manner of making up stuff when the facts clearly contradict their fantasies. The latest such busted myth came courtesy of a former Federal Reserve vice president, debunking that hard-held GOP meme about the "failed Obama recovery." With a hat tip to Crooksandliars.com:

Alan Blinder, a Princeton economics professor and former Fed vice president, thoroughly debunked the GOP's claims on Tuesday in aWall Street Journal op-ed titled ; font-weight: bold;" href="http://online.wsj.com/article/SB1000142405270230363560457639202318786068..." target="_blank">"The GOP Myth of 'Job-Killing' Spending." Blinder writes:

Blinder easily knocks down claims that the 2009 federal stimulus—roughly $600 billion in spending and $200 billion in tax cuts—failed to create jobs, pointing to Congressional Budget Office data that shows the net job gain was at least 1.3 million and perhaps as high as 3.3 million. What's more, Blinder debunks the idea that the federal deficit and the uncertainty that comes with it has caused companies to scale back business investments, which in turn impacts hiring and economic growth. Except such investment soared in the past year, increasing 14.7 percent. Ultimately, Blinder argues for another round of stimulus—specifically, giving businesses that grow their payrolls a tax credit—while calling for a serious long-term deficit reduction package.

Published

June 23, 2011 - 8:41pm

Author

randomness