If it hurts to fail, just keep doing the same thing until it feels good

In February 2008 when the economy was tanking, President Bush gave us a $152 billion stimulus. The President and his economic advisors believed that if you put money in the hands of the people, we'd spend it.

"In the past seven years, the system has absorbed shocks: recession, corporate scandals, terror attacks, global war; yet the genius of our system is that it can absorb such shocks and emerge even stronger," he said. "In a dynamic market economy, our economy will prosper and it will continue to be the marvel of the world." [He was wrong, but isn't it refreshing to see the words of a President who believes in us.]

If anything we went out and made purchases in 2008 we might have made in 2009 or 2010, making Obama's recession even worse, just like the cash for clunkers, or cash for drywall did in 2009.

By February 2008 people were starting to be cautious. So then Obama decided that the Bush stimulus wasn't big enough and he wanted even more. Was going to be for infrastructure, he said. Here a sidewalk (in Upper Arlington), there a bridge (to no where). Now that plan has really been a disaster and he makes Bush look like a piker, because very little even got to the hands of the American private sector--most went to save the unions and create more government jobs. Now he wants still another stimulus, aka extension of unemployment benefits another year, even though this will be the third beyond the usual 26 weeks people used to get and the others haven't stimulated the economy either. So how many stimuli do the economists want to try before they admit defeat?

Bush stimulus signed

The Progress Report: Obama's Stimulus Package