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Milton Friedman
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<blockquote data-quote="Designate" data-source="post: 443575" data-attributes="member: 8740"><p>I happen to agree with some of the monetary stimulus policies so I will not comment on that.</p><p></p><p>In general, a <em>stimulatory fiscal policy</em>, regardless of what the <em>consensus</em> says, is a politically subjective term, in both the context of their intended use and their measured effect on the economy. The situations by which governments utilize stimulatory policies are clearly never the same across time and space, which only leaves them open to further subjective interpretation.</p><p></p><p>While I'm not in a position to speak on the economic or political matters that took place outside of the U.S-post Global Financial Crisis, I do know for a fact that many leftist economists and political operatives lobbied and vouched for massive fiscal stimulus policies as a umbrella policy to support their wide range of leftist policies, most of which could be considered government overreach. Neo-Keynesian economists <a href="http://www.nytimes.com/2014/02/21/opinion/krugman-the-stimulus-tragedy.html" target="_blank">Paul Krugman</a> and <a href="http://www.bloomberg.com/news/articles/2013-04-09/stiglitz-says-more-fiscal-stimulus-needed-in-u-s-tom-keene" target="_blank">Joe Stiglitz</a> are the biggest offenders of this.</p><p></p><p>Aside from economist he said, she said, it doesn't take a rocket scientist to understand that massive amounts of the public expenditure could be considered government overreach in some way or another. We could argue all night long the nature of booms and busts and whether or not fiscal stimulus is necessary to keep the economy from bottoming out, but the simple fact remains that even in a perfect situation governments are going to waste millions or even billions of public dollars on <a href="http://thf_media.s3.amazonaws.com/riedl%20charts/porktable.pdf" target="_blank">projects or programs</a> that will have little to do with curing the pains of economic downturns. These are millions of dollars TAKEN from mostly hard working individuals WORKING to EARN that money in the first place. How is that not overreach?</p></blockquote><p></p>
[QUOTE="Designate, post: 443575, member: 8740"] I happen to agree with some of the monetary stimulus policies so I will not comment on that. In general, a [i]stimulatory fiscal policy[/i], regardless of what the [i]consensus[/i] says, is a politically subjective term, in both the context of their intended use and their measured effect on the economy. The situations by which governments utilize stimulatory policies are clearly never the same across time and space, which only leaves them open to further subjective interpretation. While I'm not in a position to speak on the economic or political matters that took place outside of the U.S-post Global Financial Crisis, I do know for a fact that many leftist economists and political operatives lobbied and vouched for massive fiscal stimulus policies as a umbrella policy to support their wide range of leftist policies, most of which could be considered government overreach. Neo-Keynesian economists [url=http://www.nytimes.com/2014/02/21/opinion/krugman-the-stimulus-tragedy.html]Paul Krugman[/url] and [url=http://www.bloomberg.com/news/articles/2013-04-09/stiglitz-says-more-fiscal-stimulus-needed-in-u-s-tom-keene]Joe Stiglitz[/url] are the biggest offenders of this. Aside from economist he said, she said, it doesn't take a rocket scientist to understand that massive amounts of the public expenditure could be considered government overreach in some way or another. We could argue all night long the nature of booms and busts and whether or not fiscal stimulus is necessary to keep the economy from bottoming out, but the simple fact remains that even in a perfect situation governments are going to waste millions or even billions of public dollars on [url=http://thf_media.s3.amazonaws.com/riedl%20charts/porktable.pdf]projects or programs[/url] that will have little to do with curing the pains of economic downturns. These are millions of dollars TAKEN from mostly hard working individuals WORKING to EARN that money in the first place. How is that not overreach? [/QUOTE]
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