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Originally Posted by Ustwo
Please don't tell me you are still doing 'the recesssion was Bush's fault' line.
It didn't work very well in 2004, its no better now.
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Yes. I am. Because it's the truth.
I don't care how well "it worked" in 2004 - I'm not trying to get someone elected here. I'm stating facts. And when I said it in 2004, it wasn't just an election tactic, it was a fact. Trickledown economics is a flawed, stupid system. It does not work. You had 12 years of Reagan/Bush I to try it, and it tanked on you.
It's a moronic concept, it has no hope of working, and in fact one of its chief implementers famously called it voodoo economics.
When you reduce income while increasing spending, bad things happen to the economy. Smart investors know this and start pulling their money out of the economy to keep it safe. That has the snowball effect of doing worse things to the economy, and suddenly you're in the middle of a recession.
Macro economics isn't about money, it's about confidence. If investors aren't confident in the economy, they're not gonna risk their cash in it.
And cutting income while increasing spending is the wrong way to go about trying to increase confidence in an economy.