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  • Goolsbee Refudiated

    It doesn’t matter who asks the question (CNN, Gallup, Pew, Fox, ABC, or CBS) the answer is always the same: the American people believe President Barack Obama’s $814 billion economic stimulus failed. The White House believes that this is a failure of communications not a failure of policy. Enter newly minted White House Chair of the Council of Economic Advisers, and 1991 college National Debate Team of the Year champion, Austan Goolsbee.

    Goolsbee has begun doing a series of videos trying to convince Americans that, despite nearly a trillion dollars in deficit spending and unemployment near 10%, President Obama’s economic stimulus was not a failure. Here is a link to his latest effort. As you can see its an up hill climb.

    Keith Hennessey, former Director of the U.S. National Economic Council to President George Bush, thinks Goolsbee is trying to pull a fast one on the American people. You can see his video response to Goolsbee embedded to the right.

    We think Hennessey’s work speaks for itself but, since it apparently can never be explained enough in this town, here is Why Government Spending Does Not Stimulate Economic Growth.

    Posted in Ongoing Priorities [slideshow_deploy]

    10 Responses to Goolsbee Refudiated

    1. EJJ says:

      Uhhh – is refudiated a word? I went to dictionary.com, which searches various different dictionaries, and there are no results for refudiated. Did you mean repudiated?

    2. Andrew, VA says:

      A fine point, but please don't use "refudiated." It's a made up word by someone who almost seems to take pride in the fact that she is not as well educated as others.

      Heritage must be better than this.

    3. Brad, Chicago says:

      I think the title is a "clever" combination of the words repudiated and refuted… whatever. I like these videos.

      I hate that no one ever points out that the situation may have turned around, because we did hit the bottom of the barrel. Mr. Hennessey does allude to it with the inclusion of "Time" in the graphic of potential factors leading to recovery. Does Mr. Goolsbee really expect me to believe that the stimulus bill started having an effect the moment it was passed? The "Bush administration's policies" were fine for a long time until things suddenly went bad, but they will never get credit for that.

      The world is all about perspective. Perception is reality. If someone like Goolsbee can narrow his listeners' field of vision to the only aspect of the situation that shows his premise in a positive way, it's hard to believe anything else. I wonder what the graph would look like built in terms of the percent of the job market that was lost or gained each month. If there are fewer people working, there are fewer businesses that need to lay off workers, so the number of jobs lost should decrease as the employment pool decreases. That's the other sleight of hand Goolsbee pulls with this demonstration.

    4. John F says:

      Verb

      refudiated

      1.Simple past tense and past participle of refudiate

    5. John F says:

      Perhaps, it would be best to just use the word refuted. It is funny to see the word refudiation used in so many different conversations. But the acceptance of words that are not words but then they are recognized by Websters as a word.

    6. Manowoods17 says:

      You know? Making up words and thinking they are real words is and should be relegated to the vocabulary impaired. there is no word "refudiated" it is "repudiated" dag nab it anyway (-;

    7. charles albert, sale says:

      Conn delivers another catapult load…

      Until I read the Riedl link, I was under the impression that Brian was sane……

      "The White House says zero. The White House job numbers assume that all $200 billion is new and supports jobs that would not otherwise exist. But that could be true only if the private sector would have otherwise hoarded the entire $200 billion in safes and mattresses, where it could not be consumed, invested, or deposited in banks for investment spending–but instead turned the entire $200 billion over to the government."

      On Planet Earth,

      "WASHINGTON (MarketWatch) – American companies are still holding onto record sums of cash stored"

    8. Sancho says:

      Hennessey is not an economist. He is a partisan hack.

    9. Sancho, Florida says:

      "Eloquent?"

      Hennessey is not an economist. He is a partisan hack.

    10. Pally says:

      Obviously people have no clue that "refute" is a word and sarcasm is always welcome!

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