Wikinvest Wire

Gruel in Great Depression Land

Tuesday, February 02, 2010

Austan Goolsbee, chief economist of President Obama's Economic Recovery Advisory Board showed up on the Daily Show yesterday to talk about the 2011 budget and gruel.

The Daily Show With Jon StewartMon - Thurs 11p / 10c
Austan Goolsbee
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Of course, Jon Stewart has the best line: "We had to spend, like, $700 billion, $800 billion dollars, to not go into a depression - and that's what saved us from the cataclysm. If that's the thing that pulled us out, why stop the spending if we're not really out, because the only people who are out, so far, are the people who got us in, which are the banks".

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Anonymous said...

Yes, Jon Stewart knows for a fact that it was the spending that saved us from depression. Please. No one knows if there would have been a depression without the stimulus and the bank bailout. I'm disgusted that everyone has accepted this BS talking point from the Obama/Bush Politburo as if it were some kind of proven fact.

There is however one indisputable fact that you will never hear uttered anywhere: IT WAS THE HOUSING BUBBLE ITSELF THAT ALMOST CAUSED A DEPRESSION!

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