Nancy Pelosi said, “It is the biggest bang for the buck when you do food stamps and unemployment insurance.” And she actually sounded as if she believed it.
Media Matters, of course, got angry when Fox News dared to question the Speaker. They brought out the big guns, all of the “experts” who agreed with Pelosi – both of them.
Their first expert, CBO Director Douglas Elmendorf, said that “… transfers to persons (for example, unemployment insurance and nutrition assistance) would … have a significant impact on GDP.” He added, “Because a large amount of such spending can occur quickly.”
This is, of course, the same CBO that claimed ObamaCare would save us gazillions.
Expert #2, economist Mark Zandi, who advised John McCain’s 2008 presidential campaign, stated that, “Extending food stamps are [sic] the most effective ways to prime the economy’s pump.”
Strangely enough, until this quote surfaced, Media Matters had always considered anyone who worked on McCain’s presidential bid to be criminally insane.
Economic experts from the Obama administration could not be found for comment as most of them have already deserted the sinking ship which is this administration.
Media Matters, as usual, misses the mark by a mile. It’s not that anyone hates the unemployed, but rather the fact that America hates the fact that we have so damn many unemployed when we were promised that we would have a rate no higher than 8% if would just listen to and obey the Great and Powerful Wizard of the White House.
This may explain why people aren’t really listening to the White House anymore. And why they surely aren’t listening to Media Matters, either.
Source: MediaMatters.org
This post was last modified on January 26, 2021
View Comments (6)
I got a bright idea for Nancy and her big ideas about unemployment stimulating the economy.
"You first."
Patience, Grasshopper, patience.
On Jan 3, 2011 the Wicked Witch of the Left will be demoted to either civilian or ordinary Congress-person.
Hopefully the new Speaker of the House will think to have the Speaker's gavel fumigated and de-cootie-ized. ;-)
So the best thing for the economy is for everyone to go on unemployment and food stamps. With no one working and paying taxes the economy will sky rocket with all the money going right back in.
I think my 4 year old understands more about economics then Pelosi does. Her advisors must be Ashton Kutcher and Seth Greene with both ready to jump out anytime and yell "You been Punk'd"
How is it priming of anything when its only "food money" How does that create jobs? At least Bush was smart enough to know that sending a check directly to each house-hold would get a little bit of money into the hands of American businesses while on its way to China.
The stupid things that come out of their mouths make me embarrased to be an American. Hey, look at me! I'm from a land of make-believe where retards are allowed to vote and vote for whoever promises the most free candy!
I once heard a very apt description of the problem: Say you are a motorist stranded with a flat tire. A democrat would stop and try to help but not knowing anything about changing tires would leave you with 2 additional flat tires and a burning car.
A Republican would know how to change the tire but would keep driving past because he didn't want to be late for ugly pants night at the country club.
There's a lot more truth to that statement than I originally thought. These people are incredibly inept. We would be better grabbing random fry cooks from the McDonalds scattered around the country for our high-level leadership.
You got me doing the Beavis laugh!
[beavis] uhuhuhuhuh -- you said 'ugly pants'[/beavis]
One big problem with this theory, (aside from the obvious) is the “priming of the pump” only occurs the first 2 days of each month. After the usual spending spree we have to wait up to 29 days for the next “priming” to begin.
Perhaps Fancy Nancy could come up with a way to stagger the doling-out of the Obama Stash throughout the month to sustain the spree. Better yet, change the law so the payouts occur every three days instead of monthly – this would certainly turn the economy around post-haste.