Quote:
Originally Posted by Ronald Pagan
BZZZZT Wrong.
Look up Canada's initial reaction to the recession of the early 1930s.
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Agreed, a pure fiscal conservative solution would likely fail miserably, like it did in the 1930s. However, 1930's economies had virtually none of the controls they possess today, so its impossible to say with certainty that elements of fiscal conservatism would fail today.
However, in Obama's defense, his hardline stance on GM and Chrysler, while decimating the stock market today, is a fiscal conservative stance. The markets will likely get over it, and the overreaction today will likely disappear by late this week.