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Originally Posted by sebastian_dangerfield
By the way, I'm not arguing Stimulus is a flawed approach. I agree Stimulus is the best course early on, and it did save us from dire consequences at the outset of the crisis. But we're past that point now. We're at the point where need need something to trigger growth and employment. The evidence to date shows loose monetary policy and govt spending have not, and cannot, do either. It's now time to think, "Hey, maybe we should try the opposite and see if that works."
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Yes, stimulus was the best course early on, when we were confronted with high unemployment, lack of job creation in the private sector, flagging consumer demand, and high rates of debt brought on by the housing crisis. Now that we're no longer confronted by those things, of course, we should certainly try laying off a whole lot more public sector workers and cutting taxes some more while we wait for the Job Kreators to create jobs with all that leftover cash. It's gotta happen sometime, right?
A few million more jobs, give or take.
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The damage can't be any worse than what's going on already.*
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