quote:
The slow start for the economy in 2012 — an annual rate of 2.2 percent in the first three months of the year — is evidence that the recovery is too weak to push joblessness much lower than its current 8.2 percent, and too fragile to withstand the kinds of budget cuts Congressional Republicans are proposing.
Comment:
Why would I put a NY Times editorial up on my blog, when I don't agree with it? In order to attack it, of course.
The key to this editorial is that the economy is "too weak" to cut spending. Amazing. After all these years of trillion dollar deficits- which are being admitted here as ineffective to return the economy to health- the answer is not to end it, but to do more of the same. Wasn't it Einstein who said that the definition of insanity is to keep doing the same thing over and over again and expecting a different result?
Does government spending help or hinder growth?
In and of itself, the answer must be no. Indiscriminately throwing money at a problem will never solve it. You don't need more money, what you need is to be more intelligent about what you are doing. More ideological policy prescriptions are only likely to produce the same failures that already plague us. That's why I say that ideology can make you stupid. It may also be said to be crazy.
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