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Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

Do you agree with Gingrich that the government "stimulus" has "already failed", or is it too early to tell?

http://news.yahoo.com/s/bloomberg/20090609/pl_bloo...

Former House Speaker Newt Gingrich said President Barack Obama’s plan to fix the economy through stimulus spending and government intervention to boost companies like General Motors Corp. has "already failed."

Gingrich was the keynote speaker at a fundraising dinner for the Republican House and Senate campaign committees, filling a role President George W. Bush had served for the past eight years.

"Bureaucrats managing companies does not work, politicians dominating the economy does not work," Gingrich told about 2,000 Republicans who attended the event at the Washington Convention Center last night.

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  • 1 decade ago
    Favorite Answer

    I don't agree with anything Newt Gingrich has or will say. I put him in the same category as Rush. The two of them should run on the same ticket so America can show them how they really feel about them. They will get less than 2% of the electorate nationwide.

  • Diana
    Lv 4
    5 years ago

    I think the only true bias the media has is to make the largest profit possible, the truth be damned! And predictions are a part of all the hype and spin which is used to achieve that goal. Would anyone (other then the live audience and I am not sure if it was even televised) know that Miss California said that marriage should be between a man and and women if it were not so hyped up by the media? Oh my goodness! Such a big fuss! For what? PROFITS!

  • 1 decade ago

    When answering this question I consider three items:

    1) When rushing to pass the bill, Democrats warned of a certain economic collapse if not passed.

    2) A vast majority of the money will not be spent until 2010+.

    3) Many economists see the economy bottoming out sometime in 2009.

    Based on these three generally accepted items, I would say that the stimulus bill has failed due to a lack of necessity.

    Will the bailout bill increase economic growth in 2010+? Obviously, it is too early to tell, although I might venture a guess that based on the enormous deficits created by the bill, as well as the economic distortion of having Washington's priorities win out over consumer priorities. And that guess would again be - failure.

    Edit: Don't worry, Bush's stimulus packages were failures too. Its just that one time fiscal shocks to nothing to generate sustained economic growth.

  • 1 decade ago

    Everyone knows that the government spending your money wastefully, does not create anything, even though they call it a stimulus. Almost 2 million jobs have been lost. Obama claims to have created 600,000 jobs, and 125,000 are summer jobs.

    When the stimulus money is gone there is nothing to generate more income for jobs to thrive.

    Money earned in the private sector, is what stimulates the economy, not government spending. The stimulus will only prove to put us all deeper into debt.

    The stimulus is like putting a band aid a gaping abdominal wound. It just doesn't cover it!

    Gingrich is a man with foresight, and he is correct.

    ~

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  • 1 decade ago

    Let me start by saying that Gingrich works for the same interests as Obama. They are just like a couple of professional wrestlers, pretending to be on opposite sides.

    As far as the "stimulus", you can't stimulate an economy by printing paper. All the checks printed to "stimulate" the economy are just that, paper. And printing more federal reserve notes is the same thing. No wealth is created. It's just like giving the American people Monopoly money.

    The only way to stimulate our economy is:

    1. Return on honest, Constitutional money - gold and silver coin.

    2. Dismantle agencies that are not authorized by our Constitution.

    3. Dismantle programs which violate the Constitution.

    4. Revise our foreign policy to avoid foreign entanglements.

    5. Eliminate the personal income tax.

    All of these things would gravely affect the ability of special interests to continue plundering the American people. And these special interests have many of our politicians in their pocket.

    So what we need to do is to educate the American people as to what has been done, and is being done to our economy. Then, we need to elect Americans who have not sold their souls to the special interests who are not in control.

  • Anonymous
    1 decade ago

    I absolutely and completely agree with Newt Gingrich on his analysis of the failed stimulus and bailout plan perpetrated by Obama.

    I further agree with Gingrich's assessment that government belongs out of free enterprise.

    The mere fact that government would reward the UAW for its support of the democratic party, by giving it part ownership of a automaker, shows complete lack of understanding about capitalism. I see this as a formula for disaster and complete ignorance of competition and it's part in finishing off the American auto industry.

    Ford Motor company will be the survivor, and stands to gain by all this, provided Obama keeps his greasy paws out of its business. This is where patriotic Americans will go next, for an American made car.

  • 1 decade ago

    The stimulus plan hasn't failed yet because the Federal Reserve still has money to lend the government. The Chinese are getting nervous, though. They're beginning to wonder if they'll get paid back. If we renege on our debt will they foreclose on the country? How many of you speak Chinese? Borrowed money has to be paid back with interest and I feel deep compassion for my grandkids. They're too young to understand that their future is in hock.

  • 1 decade ago

    It's too early to tell, Obama himself hasn't even been in office a year, the stimulus packages have only been in effect for a few months.

    This economic crisis has been cooking for years, since roughly the Clinton years actually, so what makes little Newt think that it's going to be resolved in a few months?

    Our little Newt is just talking out of his rear end, as usual.

  • 1 decade ago

    Newt is a nut. I thing he should marry Palin and move to the far out back to hunt kangaroo .

  • Anonymous
    1 decade ago

    Anyone with any common sense can tell you you don't borrow billions of dollars and so call "bail out" company's when you are already billions in the hole.

    This is going to be so ugly and naturally some how the Republicans will be blamed. Just like the present mess is blamed on them.

    When actually it was the Democratss that insisted that accepting high risk loans, under Clinton's administration in the 1990's, was going to HELP everyone. Well look what that did!

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