"Are you actually suggesting that Spending drives the economy?"

[Winterblues]

I saw this statement made by a Republican Congressman (I think his name was Coffee) while discussing unemployment benefits with Lawrence O'Donnell. O'Donnell was saying how the unemployed immediately spent their money which has the effect of stimulating the economy. The Republican was astonished that anyone could believe such a thing..He kept saying, "The unemployed never hired anyone, so how could they possibly stimulate the economy?" It was an astonishing bit of ignorance on display, but it is really how many Republicans think.

[bullwinkle428]

1. I fell over at that asshat's incredulity regarding one of the most

rudimentary of economic concepts, that spending drives the economy!

This bastard is in charge of writing legislation?

[niyad]

2. "think" is too strong a word for what passes for their mental processes.

YES, you clueless, ignorant cretin, getting a meager check, spending it on groceries, rent (so the landlord can then spend it on groceries, clothes, etc) utilities, even an occasional movie, perhaps. . these DO stimulate the economy.

how in the world do people this stupid manage to even breathe?

on the other hand, this idiot is part of the group that swallowed this line, which I heard early in chimpy's reign: "outsourcing our jobs is good for the economy" I knew then for certain that we were in serious, serious trouble.

[FreakinDJ]

3. I guess Milton Friedman was a Moron

He explained "Liquidity" very eloquently

[nilram]

8. Dunce, absolute dunce.

Sarah Palin tweeted it, I believe it, that settles it!

[Chan790]

11. When did you ever before see Friedman and Keynes agree on anything?

Of course, a Republican would disagree with it. :crazy:

(I tend to have marginally more use for Friedman than I do for Hayek for whom I have zero use whatsoever. Still some things are simply self-apparent economically...or so I thought.)

[FreakinDJ]

17. Emphirical data - Too much 1% Wealth can cause a recission

When the distribution of wealth accumulates in the Top 1% of the country we have a severe economic down turn

that's my theory - and I'm sticking to it

[PVnRT]

22. If I'm not mistaken

Friedman never actually said anything like "Keynes is an idiot who is completely wrong." In fact, I think Keynes' theory of effective demand is a foundation of much of Friedman's work. Which is still 90% wrong, but there you go.

[Stevenmarc]

4. Really? where was he when Bush was pushing a $600 stimulus check.

[jwirr]

5. I saw that to. They really do not understand. Even if they give the

whole treasury to the rich and they produce something to sell there are not enough of us who can buy because of personal debt or fear of tomorrow what with all that threats to cut things like SSA. The whole basis of the original Ford Motors idea was to make a car that everyone could afford. That was what drove that economy. Of course eventually Ford made too many cars and they were laid off but the original idea was right.

[PA Democrat]

6. They really are economically illiterate, aren't they?

People who don't have a beginner's understanding of economics have no business voting on economic policy.

[madrchsod]

15. there are folks on both sided of the aisle that have`t a clue

obama and his crew should have done what china did..billions into the public sector with chinese only bits and pieces.

the banksters got their`s first and we got the sloppy seconds

[raccoon]

7. "There is none so blind as he who will not see," mainly because he doesn't want to. nt

[Skidmore]

9. That bubba doesn't seem to understand that if you don't have an income

you don't have money to spend, even on necessities.

[unblock]

10. spending IS hiring.

if i buy a car, i'm hiring metal workers and designers and truckers and welders and so on to build me that car and deliver it to me. this is directly the case if i ask for a highly customized car, but it's really the same if i do it through a normal dealership. it's just that my hiring efforts are pooled with the hiring efforts of other consumers and aggregated by executives at a company.

but ALL the money to pay workers ultimately comes from consumers. investors and bankers only provide seed and emergency money, and only with the expectation of getting all of it back, and then some.

duh.

[Winterblues]

12. That is how I explain things to my delivery drivers

I tell them our customers are their boss. They pay the bills and provide for their wages, so treat them accordingly...If it comes to losing a customer or a driver, the driver needs to know what the outcome would be..

[unblock]

13. speaking of drivers, a customer is said to "hire" a cab.

[lumberjack_jeff]

24. +1

[renate]

14. and this is an example of why Republicans always screw up the economy

They just do not (or refuse to) grasp the fundamentals because they're not what they want to hear.

[Thav]

16. Discussing this with a friend:

(I'm playing the part of a brain damaged chimp high on mescaline)

<me> job creation drives the economy.
<him> as if jobs will just magically appear out of thin air if taxes are low enough, not because people need to, you know, SPEND MONEY ON SHIT.
<me> if jobs are created, the economy expands, it has NOTHING to do with consumer spending.
<him> How are these people able to breathe involuntarily?
<him> Hmm, what do I want for lunch.
<me> You need to go out and create a job for lunch.
<me> don't spend your money, though, that doesn't create jobs. Go eat a job.
<him> Good idea, then I can magically shit more jobs out of my ass.
<me> then you'll be helping the economy!

Maybe if I were brain damaged and high on mescaline, I could finally understand why republicans think like this.

[Mnemosyne]

19. What frightens me is,

I completely understand your encounter and empathize.

Do you have any hair left? I've nearly ripped mine out from the willful ignorance I encounter in NW PA.

[Thav]

20. No no, we're both on the same side of the discussion,

I was putting sanity and reason aside and playing the part of the mindless idiot. I just found his "eat some jobs and magically poop more jobs" hilarious.

We both agree that spending drives the economy, not tax cuts.

[Mnemosyne]

21. Oops! Misunderstood... but I have relatives that sound just

like that mescaline deranged chimp! :hi:

[drm604]

18. I saw that also.

I honestly have to wonder if his astonishment isn't feigned. In order to protect their real base (the wealthy) the Republicans have to continue pushing the supply side myth. One of their ways of pushing that myth is to act shocked that anyone could possibly disagree with it.

Feigned outrage and feigned shock are standard parts of their bag of tricks.

[librechik]

23. He knows better--that's just the talking point they are pushing

the goal is to misinform others. That's why they use idiots like this guy to mouth their lies for them

[Mudoria]

25. Guess it's a good thing he's retiring..

Unless someone is buying a product or service no one going to create a job to produce something to sit in warehouse. You don't need a economics degree to figure this out, common sense will tell you that (something he appear to lack). I should hope for his families sake he doesn't decide to start a business after retirement.

[Blue_Tires]

26. The "Government never creates jobs" meme has gotten a lot of traction here locally

Even came to me on a GOP robocall during the races...

Which is shocking to me, because even the most ignorant local RWer can see that defense contracting and defense related industries is the only certain thing holding our economy up...

[truckin]

27. This argument from the right drives me crazy. They say if the rich

get tax cuts they will create jobs. We have seen this doesn't work over the years.

For one thing many of the wealthy do not own businesses and do not directly create job no matter the size of their tax cut. Fro the wealthy that do own businesses, market conditions determine if they hire employees or not. If they receive more money in their tax return they will only hire additional employees if demand for their product or service requires them to. If they get a tax cut in a bad economy, they pocket a good portion of it while tax cuts to the average workers get spent, stimulating the economy which makes the small business owner hire more.

This is an over simplification but market conditions are the main driver of employment growth, not tax cuts.

[laughingliberal]

28. Idiot! nt

[ck4829]

29. It's not "Supply Side Economics" anymore, it's "Supply Side Fundamentalism"

Kick

[treestar]

30. Too much supply side cool aid

You can produce all you want but if there is no one to purchase it - it's useless.