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Monday 20 July 2015

Will President Obama's stimulus package work

The theory is that the stimulus will bring back everyone's confidence and those of us who are in the business of creating jobs and wealth will be inspired to hire and grow. But why not take a poll of entrepreneurs and folks who make it their business to create jobs and ask them what would spur their confidence? Or better still, why not study the turnaround economies of Ireland, Spain, India, Brazil, Germany and the US during previous recessions?

The study would clearly show that the only successful way to pull a country out of an economic recession is to put the money back into the hands of the people, not by the government taking $1 trillion out of the national economy and distributing it as it sees fit. It is contradictory to almost every historical precedence for economic growth.

For More: Economic growth

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