On the recordApril 21, 2010
You're too generous in your praise. I don't think it's much of being an economic whiz as it is being a student of history. And as you were saying, we've studied history. And you don't need to figure out and reinvent the wheel here. Our country has cyclically gone through good times and bad. You know, sometimes we're up, sometimes we're down. A typical recession lasts about 18 months, and our country was in a recession, and it was starting to taper off. And we were in the sevens, 7\1/2\ percent unemployment, which was too high. But the President was saying, you've got to pass that $787 billion stimulus bill or else unemployment might go over 8 percent. Basically, they said unemployment won't go over 8 percent if you pass the bill. And of course we knew that wouldn't work because, as history shows us, it's never worked before. It's only created even more problems. And sure enough, just like history's always shown, and just as we predicted over a year ago, when they spent all of that money growing the size of the Federal Government, not creating jobs in the private sector, it actually created more problems to the point where unemployment is now hovering over 10 percent.





