Once again one has to engage in highly speculative guessing and suggest that had we not spent the nation into a $1.6 trillion deficit, things COULD have been worse.
Well, based on historical facts, there is NOTHING out there that supports the idea that the Government spending vast sums of money it does not have will do anything to improve economic conditions. Rather, the historical facts suggest that what it does is EXTEND the economic problems and perhaps make them even worse.
When I studied economics in the University, it was fairly common acceptance that Keynesian theories were not sound and we only learned them in order to better understand theories that made more sense.
Now suddenly, there is this new found rush to take Keynesian theories and put them on steroids.
Let me ask you a very OBVIOUS question; what happens to our economics when the Government finally starts to force the American taxpayers to pay for the trillions in deficits we have run up?
What do you think will happen in the next six months, with continued job losses, to the housing market when many who have lost jobs for more than 6 months and own homes can no longer make their payments?
What do you think will happen to job growth if Obama spends another Trillion he doesn't have on healthcare?
What do you think will happen economically if the ONLY jobs that are being created in the economy are Government jobs and they pass the cap and trade boondoggle bill?
The FACTS are so apparent that only those seriously wallowing in willful denial can continue to pretend that.....the recession is OVER! Yes, like all good Liberal Democrats, they think they can just say things and that makes them so!
But alas, this is the REAL world and the ONLY thing that creates jobs are the entrepreneurs and corporations who given the capital and profit opportunity to risk capital, expand businesses and opportunities through their own ingenuity. Therefore, the ONLY solution to an economic recession is the opposite of what Obamanomics prescribe; and that would be to reign in Government spending, provide tax incentives to business and individuals and stop the demagogue of Wall Street and Big Corporations as being evil and greedy.
This notion that MORE Government as being better and keeping us from doing stupid things that lead to bankruptcy through good Government oversight would by hysterically laughable if not so damaging to our economic wellbeing.
Want to see the oversight people in action before this fiasco blew up? Here you go, watch and learn what oversight REALLY is:
YouTube - Democrats Fighting Regulation of Freddie & Fannie
YouTube - Burning Down The House: What Caused Our Economic Crisis?