Arianna Huffington goes head to head with Stephen Moore on CNN and my head nearly exploded when she suggested that we’ve focused too much on Wall St. and haven’t spent enough on ‘Main St.’ Her suggestion is that we should spend the remaining 70 billion of TARP on jobs that can be created now, otherwise known as shovel ready jobs. Oh, and she also wants more FDR type infrastructure programs because our infrastructure is ‘crumbling’.
Stephen Moore couldn’t wait for her to quit talking so he could interject that we’ve just spent the last year and a half doing exactly what she is suggesting and it hasn’t worked. What he in turns suggests as that we do something that we know will work, like the Reagan model that led our country to job creation and prosperity. Oh, what a brilliant idea! Let’s do something that’s worked in the past!
I’m with Stephen on this one – duh! Arianna can’t see that we’ve spent 700 billion on TARP and 787 billion on shovel ready jobs as well as GM bailouts and ‘Cash for Clunkers’ and so on and so forth, and we are still at nearly 18% real unemployment with no signs of relief coming. And all she wants to do is bandaid the economy more with government spending that will obviously run out just like the stimulus and will put us deeper in debt, without fixing the actual problem of private sector job creation? What a freaking dolt!
Enjoy!