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RTFM

First, Vice-President Biden says, “We misread how bad the economy was,” which President Obama later follows-up with, “what Vice President Biden was referring to was simply the fact that when we passed the stimulus, we hadn’t gotten the full report of the first quarter contractions in the economy that turned out to be way worse than anybody had anticipated.”

Don’t you think that you should have waited to ensure that you had enough information before ramming a multi-trillion dollar stimulus down the public’s throat? Also, why has only a small portion of the stimulus been enacted? Could it be that the mid-term elections are holding the bulk of the stimulus package back so that those who voted for it can show their constituents what a great job that they are doing in Washington?

And now, there is talk of a second stimulus? With whose money? Is the government just going to print new cash?

Before we implement another knee-jerk reaction stimulus, how about we use up the first one first? Better yet, let’s actually read the economy and make an informed decision. We might just find that we don’t need a stimulus package at all.

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1 comment to RTFM

  • According to the NY Times:

    “America is six months behind; it has wasted a lot of time,” said Patrick Devedjian, the minister in charge of the French relance, or stimulus. By the time Washington gets around to doling out most of its money, Mr. Devedjian sniffed, “the crisis could be over.”

    Gallic pride aside, Mr. Devedjian has a point. While he plans to spend 75 percent of France’s stimulus money this year, the White House is giving itself until fall 2010 to lay out that big a share of the American expenditure. And many experts predict that Washington will fall short of that goal.

    As it turns out, France’s more centralized, state-directed economy — so often criticized in good times for smothering entrepreneurship and holding back growth — is proving remarkably effective at deploying funds quickly and efficiently in bad times.

    Yeah, France isn’t using their stimulus to pay off the people who elected their representatives into office.