Just when you thought you saw it all, now comes this bit of idiocy
Conventional wisdom is that markets like political gridlock, and so in theory investors should be cheering what seems increasingly likely to be a big GOP win in November. And by all accounts, the GOP will win at least in the House, as enthusiasm on the part of the GOP base is way higher than on the Democratic side. As evidence, the losing candidates in some GOP primaries have been getting more votes than winning Democrats.
But don’t count on this being good for the economy — at least not right away. Right now we still have a business and consumer sector thirsty for more stimulus, and it seems likely that a Republican sweep — particularly a party with a mandate to cut the deficit – will usher in with it some kind of American version of austerity. (And don’t hold your breath for tax cuts, because the administration still seems pretty clear that it’s in no mood to keep the Bush tax cuts).
And yet again we see the cluelessness and blatant wishful thinking in Liberal World. “Thirsty for more stimulus”? Doubtful. The business and consumer sector is thirsty for actual jobs, not government handouts. They want a government which is actually looking to stimulate the private sector, not the public sector. They are look for a government that is stable and has a clue how business works, not flip flopping, massive government projects and legislation, and uncertainty, which is what you get with Democrats in charge, particularly ones who have never held a private sector job, never had to make a payroll. Remember, the financial problems started hitting after Democrats regained Congress, and have gotten worse since Obama took the White House. The only economic downturn that lasted longer was the Great Depression. Most are over in an average of 16 months.
Teach 1/3 of the stimulus was for tax cuts, 1/3 went to states to pay salries of teachers cops and firemen, and 1/3 was supposed to go for other jobs but about 50% of that is unspent