National Bureau of Economic Research's Business Cycle Dating Committee has declared that the "great recession" not only has ended, but ended in June of last year. While it certainly doesn't feel like the recession is over since our national unemployment hovers just below 10%, home foreclosures are still occurring at alarming rates, people home's are still underwater, and people in general are still hurting and are scared.
But, in economic terms the recession is over. The question becomes why did we spend all of that stimulus money? I am not hearing anything in the press about this, but logically it couldn't have been the stimulus money that brought the economy out of the recession. The money (some of which has yet to be spent) couldn't have gotten into the economy to make a difference to affect the numbers that ended in the second quarter of last year. The stimulus passed in towards the middle of the first quarter of 2009, and by the end of the second quarter the recession ended. For a recession to be over it has to be two straight quarters of growth. Which means that we had growth in the first quarter of 2009.
This is yet more bad news for the president. The stimulus did little or nothing to get the economy out of the recession in technical terms. The evidence seems to show that economy would be in the same shape that it is today without the stimulus. It is shame that media is not picking up this.
So why exactly did we spend almost $1 billion of borrowed money again?
A belief in the written constitution. The belief that we are responsible for ourselves and for our families. The belief that we are allowed to fail. The belief in a strong national defense are a few of the things that make me just a conservative girl.
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini
"I say this not to the teachers, but to their unions: If education were a war, you would be losing it. If it were a business, you would be driving it into bankruptcy. If it were a patient, it would be dying." Bob Dole
Yes, House Republicans have been in power for 5 hours and they have not passed their entire agenda. The New York Times things they should be canned and Democrats put back in charge. Don Surber
"Our lives begin to end the day we become silent about things that matter." Dr. Martin Luther King, Jr.
"So I say huzzah to the 112th congress for reading the Constitution, for acting like it matters. It does. The Constitution may not be sacred, but the sacred has no better friend than the Constitution." Pat Archibold
"53% of Democrats have a postive view of socialism. 100% of republicans think those 53% are morons." Mark Levin
"Corrupt the young. Get them away from religion. Get them interested in sex. Make them superficial; destroy their ruggedness." First plank of the communist strategy for revolution - confiscated in Dusseldorf, Germany in 1919
"If you believe this isn't going to cost the government anything, you are likely to see leprechauns riding on unicorns with pots of gold circling the capitol" Rep. Devin Nunes, CA-21 on healthcare "reform".
"Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views". William F. Buckley, Jr.
"The Republicans were laughing and waving the American flag, and I thought that was ourtrageous behavior" Maxine Waters
"The American people will never knowingly adopt Socialism. But under the name of 'liberalism' they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened." Norman Thomas
I am a Republican, a black, dyed in the wool Republican, and I never intend to belong to any other party than the party of freedom and progress. Frederick Douglas
Don't go around saying that the world owes you a living. The world owes you nothing. It was here first. Mark Twain
I freed thousands of slaves, and could have freed thousands more, if they had known they were slaves. Harriet Tubman
But I think the most important thing I have figured out was how not to lose hope even when things are bad and it feels like it won't get better. It will get better. You just have to keep working at it and moving forward. Homeless & Conservative
The way to crush the middle class is to grind them between the millstones of taxation and inflation. Vladimer Lenin
There is all the difference in the world between treating people equally and attempting to make them equal. F.A. Hayek