Catastrophe - Dick Morris [139]
29 Combined, the stimulus package: Paul Sherman, “U.S. Federal Deficit to Top 10% of GDP at End of 2009,” CapitalBeat.com, January 27, 2009, http://capitalbeat.com/?p=781.
30 Other, possibly more: “Wrap-Up 7, Obama Sees Soaring Deficits, Pushes Big Goals,” Reuters.com, February 26, 2009, www.reuters.com/article/marketsNews/idUSN2644850320090226?sp=true.
31 According to the Congressional: Matt Cover, “Only 23 Percent of Stimulus Will Be Spent This Fiscal Year, Congressional Budget Office Finds,” CNSNews.com, February 18, 2009, www.cnsnews.com/PUBLIC/Content/Article.aspx?rsrcid=43708.
32 of the $28 billion: Ibid.
33 of the $16.8 billion: Ibid.
34 More than $100 billion: Christian Broda and Jonathan A. Parker, “The Impact of the 2008 Rebate,” VoxEU.org, August 15, 2008, www.voxeu.org/index.php?q=node/1541.
35 only 10 to 20 percent: Martin Feldstein, “The Tax Rebate Was a Flop. Obama’s Stimulus Plan Won’t Work Either,” Wall Street Journal, August 6, 2008, http://online.wsj.com/article/SB121798022246515105.html.
36 In the last quarter of 2008: “Japan: Worst Crisis since War’s End,” CNNMoney.com, February 16, 2009, http://money.cnn.com/2009/02/16/news/international/japan_gdp/.
37 When Japan Tried Obama’s Program: “Barack Obama-San,” Wall Street Journal, December 16, 2008, http://online.wsj.com/article/SB122938932478509075.html.
38 “If a country falls”: Mark Skoursen, The Big Three in Economics (London: M. E. Sharpe, 2007), p. 213.
39 “Keynesian ‘pump-priming’”: “Barack Obama-San,” Wall Street Journal, December 16, 2008, http://online.wsj.com/article/SB122938932478509075.html.
40 “I tend to believe”: “Deficit Spending Stimulus Skeptics,” Heritage.org, January 21, 2009, http://blog.heritage.org/2009/01/21/deficit-spending-stimulus-skeptics/.
41 “We’re creating a real”: “Economist, Nebraska Reps. React to Stimulus Plan,” KETV.com, January 25, 2009, www.ketv.com/money/18561438/detail.html.
42 “That [large government spending]”: Larry Elder, “Do Economists Agree with Obama?,” TheAtlasphere.com, February 10, 2009, www.theatlasphere.com/columns/090210-elder-economists-disagree.php.
43 “This is probably the worst”: “Harvard Economist: ‘Stimulus Is Probably the Worst Bill That Has Been Put Forward Since the 1930s,’” Examiner.com, February 9, 2009, www.examiner.com/x-2304-DC-Republican-Examiner~y2009m2d9-Harvard-Economist-Stimulus-is-probably-the-worst-bill-that-has-been-put-forward-since-the-1930s.
44 “[T]he risks of a”: “Deficit Spending Stimulus Skeptics.”
45 “The calculations that”: Ibid.
46 “My advice to”: Ibid.
47 “Unfortunately, bailouts and”: Ibid.
48 “The theory that”: Ibid.
49 Even though Bush cut: Gerald Prante, “Summary of Latest Federal Individual Income Tax Data,” TaxFoundation.org, July 18, 2008, www.taxfoundation.org/research/show/250.html.
50 the richest 1 percent: Ibid.
51 “We are in the”: Steve Holland, “Obama: U.S. in Worst Crisis since Depression,” Reuters. com, October 7, 2008, www.reuters.com/article/governmentFilingsNews/idUSN0749084220081008.
52 “But I think what”: Associated Press, “Obama Meets Congress Leaders on Economic Rescue,” Cleveland.com, January 23, 2009, http://blog.cleveland.com/pdextra/2009/01/obama_meets_congress_leaders_o.html.
53 “I want to say”: Scott Wilson, “Obama’s New Track: Blaming Bush,” Washington Post, March 15, 2009, http://mobile.washingtonpost.com/detail.jsp?key=362202&rc=to&p=1& all=1#___1__.
54 “We’ve inherited a terrible”: Ibid.
55 “We’ve inherited an economic”: Israelis Picking a New Leader; Race Against Time for Rescue Plan; Obama Administration’s Golden Parachutes,” The Situation Room, “CNN.com, February 10, 2009, http://transcripts.cnn.com/TRANSCRIPTS/0902/10/sitroom.02.html.
56 “By any measure”: Wilson, “Obama’s New Track.”
57 “There are a lot of individual”: “Remarks by the President and Economic Recovery Advisory Board Chairman Paul Volcker after Meeting,” March 13, 2009, www.whitehouse.gov/the_press_office/Remarks-by-the-President-and-Economic-Recovery-Advisory-Board-Chairman-Paul-Volcker-After-Meeting/.