I heard that President O'Blama is flying his corporate jet to Denver to sign the legislation that the CONgress sent to his desk on Friday the 13 (cue Rod Surly theme right here). The Man's office is in DC, why the heck is he flying to Denver? Last I heard we were in a recession.
In 1893, we had a depression; we got out of it without a stimulus package. A major recession hit the country in 1920-21; though sharp, it quickly reversed itself into what has been call(ed) the Roaring '20s.
In 1929 came an economic downturn, most notably featured by the stock market collapse, after which came massive government intervention — you might call it the nation's first stimulus package.
Anybody hear the story of how the IRS seized Mustang Ranch and tried to run it, as prescribed by law, and were famously unsuccessful? The government couldn't turn a profit selling hookers and booze and you want them to solve your economic problems?
The rest of Walter Williams sharp piece at Investors Business Daily here. (link is fixed)
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