Eric Cantor: Obama's Latest Stimulus Is Another Play From the Same Failed Keynesian Playbook
Posted by Jim Hoft on Monday, September 6, 2010, 4:56 PM
Eric Cantor blasted Barack Obama’s latest play from his failed Keynesian playbook today.
The Politico reported:
House GOP Whip Eric Cantor is coming out against President Obama’s $50 billion infrastructure plan by labeling it more “stimulus” spending.
“Today the president will use the Labor Day holiday as the launching pad for yet another government stimulus effort, another play called from the same failed Keynesian playbook,” Cantor said in a statement released before Obama announced his plan in Milwaukee. “More government stimulus does nothing to end this cloud of uncertainty.”
The White House has pushed back against the notion that the proposal to rebuild roads, rails and runways amounts to a second stimulus plan. White House press secretary Robert Gibbs said last week that a stimulus plan wasn’t being considered, and on Friday, Obama called his forthcoming plan a “broader package.”
Cantor said Obama’s plan is the White House’s “latest” stimulus effort.
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Published May 24, 2012 at 8:46 pm - 91 Comments
Militant Conservative commented:
It does not work the keysian ideology is a pipe dream. this is not sound economic policy. this will be disqualified by the economic indicators of the time period. that and the shots fired at the elites. powder is dry.
averagemelon commented:
Why doesn’t someone give the fool all the money in the world for the next millenium and ask what he plans on doing to save us. Stupidity is the gift that keeps on giving. Keep doing the same thing and expect POLAR OPPOSITE results!
God save us from this feckin Muslim.
fightinggranny commented:
Didn’t they just spend 850B for this project?
Sorry, forgot about the unions and their forever bailouts.
jainphx commented:
He could really stimulate me by resigning, and take Polosi and Reid with him. Goodby and good riddance to bad garbage!
soylent green commented:
Son of Spendulous.
Anonymous commented:
This is literally insane! There is still $50 billion dollars not spent from the original Stimulus, Tarp, and other programs. Not that I am a fan of any of them, but it is like these people put money in their left pocket then look at us pull their right pocket inside out and says “I’m broke”!
squeaky commented:
“There is still $50 billion dollars not spent from the original Stimulus, Tarp, and other programs.” exactamundo.. probably going out of the white house in sandwich bags – maybe that’s why trumka’s made so many trips.
[NEW YORK (MarketWatch) -- Swindlers, con men, and thieves could siphon off as much as $50 billion of the government's planned stimulus package as the money begins flooding the economy...]. ya think with the foxes in charge of the hen house……
http://www.marketwatch.com/story/stimulus-fraud-could-hit-50-billion
Brooklyn commented:
Democrats, Obama, Pelosi, Reid, Clinton, etc., are talking about BUILDING ROADS?
LOL !
Paving roads?
How green…
How mindless…
This is the same disastrous funnel of more taxpayer money to UNION groups, which will do nothing to create real, permanent, jobs or growth.
They bragged, after slandering the Republicans for 8 years, about how they were going to create this UTOPIA, with an historic era which was NEW – FRESH. A developing enlightened period, which would do wonders with Science, Technology, etc.
And all we see is yet another JOKE, talking again about repaving ROADS?
OH my…
The Democratic Party is worse than anyone ever imagined.
Corzine did this garbage, putting together a new highway construction gig for the Unions prior to his loss to Christie.
This is not going to help or save any Democrat.
What a mess…
jainphx commented:
What a mess—– Boy are you right and getting messier. Trying to spend and tax us to prosperity is their only play in that Communist red book. Just common sense tells, or should tell, us that spending what you don’t have is not a good idea, but no they know so much better.
Ignorance thy name is Demoncrap.
Opus #6 commented:
It wouldn’t be so threatening if they were not borrowing all this money from my kids.
kato commented:
This is a good example of how clueless the Clueless Party is.
George W. Bush played from the Keynesian playbook. Presumably that didn’t bother Cantor.
What Obama/Reid/Pelosi have done is beyond Keynesianism. And if, in fact, Keynes advocated the level of government spending that is going on here, it could at least be justified by the necessity of rebuilding after a catastrophic world war.
Clueless Party ain’t gonna win many elections by damning Democrats with the name of John Maynard Keynes. What an insipid message from a guy who is supposed to be one of the party’s firebrands.
BarbaraS commented:
One thing you can say about Obama. He doesn’t think small. Where does he think he will get this money? hina again? I think that well is dry. With this economy he won’t be getting it from us. He wants to put us into a hole so deep we will never get out. Too bad the 30% who still support him won’t see that he is intent on destroying this country. Irregardless of TARP, this guy has taken a booming economy and taken it to the bottom. Europe is recovering because they would not follow his advice but we are still in the doldrums and sinking fast.
squeaky commented:
“Where does he think he will get this money? china again? I think that well is dry. With..” the question is will he have any skin in the game as in his own personal wealth. it’s easy to dispose of people when you have no personal attachment or use.
kansas commented:
January 3rd, 2007 was the day the Democrats took over the Senate and the Congress:
At the time:
The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The Unemployment rate was 4.6%
George Bush’s Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!
Remember the day…
January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy?
BANKING AND FINANCIAL SERVICES!!!
THANK YOU DEMOCRATS for taking us from 13,000 DOW, 3.5 GDP and 4.6% Unemployment… to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!
(BTW: Bush asked Congress 17 TIMES to stop Fannie & Freddie – starting in 2001 because it was “Financially risky for the US economy”):
http://www.sportstalkworld.com/showthread.php?16828-Dems-Cause-CRASH%21
And I think Obama is using Kenyan economics not Keynes.
squeaky commented:
[How the World Almost Came to an End on September 18, 2008]…was this ever cleared up?
or was it buried by info overload or worse…….
http://seekingalpha.com/article/119619-how-the-world-almost-came-to-an-end-on-september-18-2008
Robert commented:
White House press secretary Robert Gibbs said last week that a stimulus plan wasn’t being considered, and on Friday, Obama called his forthcoming plan a “broader package.”
They should have thought of that last year when they wasted $850 Billion on political pork for their cronies and supporters. That itself was borrowed, and now we can’t afford to borrow any more.
Robert commented:
squeaky #15
Funny you should mention that. I wrote about it here a couple of times, but did not have the specifics. And I was just thinking about it driving home a little while ago, thinking about contacting my Congressional Rep. to ask about.
Robert commented:
“$550 billion was being drawn out in the matter of an hour or two.”
From which accounts and by whom? Odd that we have never tried to find out.
“The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide.”
So they shoved an amount that could equal a yearly deficit in one afternoon, and taxpayers were never told about it. This is not money from the Federal Reserve, the so-called “quasi-private” entity. This is public money from the Federal Treasury.
“We were having an electronic run on the banks. They decided to close the operation, close down the money accounts”
It would seem to me that the actors in this could be determined. It had to have been a small number of coordinated actors. This action was a precursor to, and a major factor in, the financial crash, and it has been overlooked, or shall we say hidden, from examination.
I would say that there was a conspiracy and criminal activity performed to manipulate the financial system in order to influence a certain outcome to the then-coming presidential election. The question is, were the criminal actors American citizens or foreign financial players, or some sinister combination of the two?
billy sol commented:
Cantor’s the man!!!
theBuckWheat commented:
Keynes’ four hundred page book, commonly called “The General Theory”, is full of contradictions and inconsistencies. Thankfully, we can look to the last chapter, titled Concluding Notes, to give us a summary of his main points. Don’t take my word for it, at least scan that much of the book yourself. A Marxist web site has the full text of the book online. See: http://www.marxists.org/reference/subject/economics/keynes/general-theory/ch24.htm
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