Congressman James Clyburn of South Carolina proves beyond a shadow of a doubt that socialists have no concept of what a free market means or how economies are supposed to function, nor does he have any clue what the long-term ramifications for his asinine ideas actually are:
“We are not going to save our way out of this recession, we’ve got to spend our way out of this recession. And I think most economists know that.”
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“You’re not going to grow this economy by wishin’ it.”
Perhaps economists who have never worked in the private sector and study only theory, as opposed to practical application subscribe to this ridiculous idea. Our current Fed chairman is one such theoretical economist.
But anyone who has ever balanced a check book or had a credit line understands in pretty clear terms what happens when you have no savings and you spend more money than you have coming in.
This isn’t rocket science. It’s third grade math.
No, we can’t wish the economy back to life. But we can wish and then mobilize to get fools like this out of Congress.ÂÂ
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Whoever put this nimrod in office should have some real regrets right about now.  Yes, let’s continue to spend our way out of the problem. Consumerism has really worked out for us so far… If this guy is representing  our country, then we’re doomed!ÂÂ
I live in Mr. Clyburn’s district and unfortunately, no one even tries to run against him. It is considered a “guaranteed” district. It is possibly one of the most gerrymandered districts in the country. It is drawn so that only a black democrat can win it. He is also one of only 75 members of congress that voted to continue funding ACORN. And, yes, we are doomed
Yeah…
Although I freely admit I only took like four economics classes in my life, I’m pretty damn sure this dude doesn’t know WTF he’s talking about.
This is the basic logic that our government is using right now:ÂÂ
Over the past 30 years, we’ve done X with our fiscal/monetary policy, and it didn’t turn out all that well…in fact, the system nearly imploded in September of 2008. Ergo, we should now do 2X with our fiscal/monetary policy.
If something doesn’t work, doing more of the same thing, at an accelerated rate, is bound to be the solution.
This is normally where I repeat Einstein’s definition of insanity…but at least we are doing MORE of the same thing…so we’ve got that going for us…I guess.
This is going to end very, very badly.
Agree with Rick. How much longer can we keep spending more money to fix the original problem of having spent too much money? It’s insanity at best.
I’ve said it before many times – Keynsianism will turn out to be a colossal failure. It has only taken us 80 years to find that out.
doing the same thing more than once and expecting different results?. what is that defined as?  insanity? idiocy?