Last edited by MildSteel; 02-27-15 at 05:12 AM.
I can think of three major government spending programs that did in fact boost the economy.
1. Tragically WWII and the spending of money on weaponry created a lot of jobs and lifted us out of the depression.
2. The interstate highway system. Prior to the interstate highway grid it took forever to travel across the country. The construction of it created jobs but that's not all. Shipping was revolutionized. Private transportation was revolutionized. I cannot calculate the economic benefits of the interstate highway system in the time I have this morning.
3. NASA. I especially look to all of the spinoff innovations that came about due to the government spending on the space program. Satellite communications that made the cable tv industry possible. Ball point pens. Gps navigation. Advances in water filtration and food preservation. Disposable diapers and feminine hygiene products. Advanced weather forecasting.
Having opinions all over the map is a good sign of a person capable of autonomous thinking. Felix -2011
To be very clear, actually when the government takes treasuries to the Fed and gets money in return, it is taking money from the future. So in some sense the money is coming from somewhere. The thing is this however, the money that the Fed used to buy those toxic assets, that will never be repaid, actually came from nowhere. No one is going to buy them so that is where they will die. And as long as people worldwide accept U.S. dollars, which will be the case for a long time, the Fed can go on about its business and it will mean very little, if anything at all in practical terms. Like I said, the Fed does not have anyone knocking on its door demanding payment.
Nonsense. You seriously need to educate yourself beyond these simplistic left wing plattitudes.
Prior to 2008 how much in dollars did Banks park at the FED reserve ?
And Dodd Frank re-re-intsalled the very standards that the Democrats stripped away from private lenders under the pretense of " discrdiscrimination ".
Unfortunately, Dodd Frank regulations didnt apply to the two most corrupt Financial entities involved in the Subprime mortgage crisis.