As the headline says, “61% Say Cutting Spending Will Create More Jobs Than Obama’s New $50 Billion Program”. These are Americans who say this in a poll done in the US last week. Much is in the question asked, of course. But it is a sign that the message is getting through.
And the question was not about debt but about creating jobs. The Stiglitz’s and Krugman’s of the world will have to be left behind as the common sense observations of Americans who are watching their economy being devastated by a sea of undisciplined and useless public spending.
But there is one group that still thinks more spending is the ticket. What is described as the “political class”. They’re still in it up to the hilt. I’m not surprised but these stats do say something worth bearing in mind as we watch our government here deal with the economy:
Fifty-eight percent (58%) of Political Class voters believe the president’s $50 billion program will do more to create jobs that cutting spending and deficits. Again, Mainstream voters strongly disagree: 78% say cutting government spending and deficits will do more to create new jobs.
Watching the negotiations over who would form government here should be a useful reminder of how much these people love spending other people’s money.
Sadly I doubt that finding would be replicated in an Australian poll. Australians are still credulous about the government’s magical ability to create jobs just by spending money.
“Vulgar Keynesianism” is not on the nose here… yet.
daddy dave
11 Sep 10 at 11:43 am
Don’t be too sure dd, the Volk are pretty well aware of the bats fiasco and the school halls debacle! They just need to join the dots and see these things as a part of a pattern.
Rafe
11 Sep 10 at 2:16 pm
I don’t know about that dd. How many other polities do you know, which have voted in a political party whose campaign ran on the explicit intention of introducing a new tax – the GST?
Peter Patton
11 Sep 10 at 2:30 pm
So how come the German economy is steaming ahead?
It appears that the Kurzarbeit scheme worked.
Spending cuts didnt
Free market didnt
You guys need to toss this 17th C philosophy out the back door.
rog
11 Sep 10 at 6:47 pm
It appears that the Kurzarbeit scheme worked
Keynesian cash splash merely allows you to put off facing the problem till next year. It’s kinda like losing your job so borrowing money to maintain the same lifestyle.
daddy dave
11 Sep 10 at 7:02 pm
So how come the German economy is steaming ahead?
Spending cuts didnt
http://www.bloomberg.com/news/2010-06-22/merkel-tells-obama-spending-cuts-to-boost-economy-not-put-brake-on-growth.html
You guys need to toss this 17th C philosophy out the back door.
Smith lived in the 18th C you dim-witted fool.
dover_beach
11 Sep 10 at 7:26 pm
So how come the German economy is steaming ahead?
Spending cuts didnt
http://www.bloomberg.com/news/2010-06-22/merkel-tells-obama-spending-cuts-to-boost-economy-not-put-brake-on-growth.html
You guys need to toss this 17th C philosophy out the back door.
Smith lived in the 18th C.
dover_beach
11 Sep 10 at 7:30 pm
Sorry about the double-post; the servers been playing funny buggers this afternoon.
dover_beach
11 Sep 10 at 7:32 pm
So how come the German economy is steaming ahead?
Several reasons they did teach you at the joinery academy, Wodgie.
1. comparatively small stimulus
2. Fiscal retrenchment
3. EU wide monetary policy, which is one size fits all that happens to be too lax for Germany.
4. They’re the biggest exporting nation in the EU for a good reason. They make lots of thing people want well.
JC
11 Sep 10 at 7:34 pm
Sadly I doubt that finding would be replicated in an Australian poll. Australians are still credulous about the government’s magical ability to create jobs just by spending money.
Not sure about that, DD. At the Townhall meetings there was a lot of concern about how they could afford all their election promises. I’d say a lot of people relate Government finances to their household finances and wonder what the hell is going on.
Infidel Tiger
12 Sep 10 at 9:51 am