Goolsbee: "We're Coming In With a Bang"

Obama economic adviser Austan Goolsbee, November 24, 2008

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News & Politics

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[cg66079]

"how bout a recovery package for me"

That is what they are talking about with the new economic stimulus package and the tax cuts. Obama, unlike Bush, believes in stimulating the economy from the bottom up. This makes sense because that is the way money flows, money flows up hill it doesn't trickle down.

Hopefully this time they won't spend millions of dollars sending out notices that tell you the stimulus package is coming. The only thing they are stimulating there is the US Post Office.

[TimiHendrix86]

Nah, I'll be here for a while. So, when you have an intelligent response, or even something relevant to say, I'll be here. :)

[souleverici]

And how did that so-called "2.5 million new jobs" work out? Two years later unemployment is still near 10%! Democrat lies!

[UsualMike]

"We're coming in with a bang". Yes, and you'll be going out the same the way. Shortly.

[dalmatian847]

@zidmt How's the hope and change thing working for you these days..LMFAO!!!!

[rayallin]

In with a bang and out with a whimper. Its a shame so few people study this recent history where you can see the spin masters at work.

[TimiHendrix86]

The crisis certainly isn't over; however, our economy has returned to growth. When Japan had a similar housing bubble, its economy stagnated for a decade. Although the current administration has not handled the crisis flawlessly, considering how far we've come in such a short time--and the even worse potential situation that we escaped narrowly--I still support their efforts.

[Biltospill]

@TimiHendrix86 Well After one year and still spending like a drunken sailor... are you still in love with this monetary cheerleader? In today's housing market the only way you can get a home loan is to provide evidence you can repay the loan (2 yr 1099/W2). State by state they are making hard cuts because thats what you do. The Federal government needs to feel relevant and the only way to do that is to do something... at a time when you do less. I am guessing you have CC debt up to your...

[TimiHendrix86]

Also, it is incorrect to say that they are in this position solely because of their bad choices. hey did make mistakes, yet it is mainly due to the poor economic conditions. Over a million jobs have been lost, so fewer people have the money to buy cars, and the credit crises has made it impossible for many of those who can afford cars to buy them. Even Honda and Toyota are down over 30%.

It also isn't a bailout; it's a loan. We've done this before, and they paid us back with interest.

[TimiHendrix86]

-I never said they were. Let's not forget that Obama has the support of some of the most successful economists in the world, while McCain admitted he didn't know much about the economy. I was simply pointing out that they both supported it, anyway.

- Even if they are able to do that, a lot of jobs would be lost. If they all go under, three million jobs would be lost. That's almost three times the amount of jobs we've lost this entire year.

[Causa10bserver]

Neither McCain or Obama are economists and they jumped on the bailout bandwagon from the campaign trail, probably hoping to look decisive and in charge. - Which conservative economists are you referring to? - The auto companies won't disapear if they file bankruptcy, they'll go through restructuring that may solve some of the problems that brought them to this point in the first place. Throwing money at them will just postpone the problem and increase the risk of inflation due to the deficit.