McClatchy News ran this article yesterday that attempts to outline the different outlooks on the economy held by Kay Hagan and Thom Tillis. The article was supposed to be an unbiased summary presenting each candidates viewpoints, but, this being the left-wing media, the author couldn’t help but add this editorialized comment:
Mainstream economists generally think the stimulus and the bank rescue were two factors that actually helped the U.S. economy out of the Great Recession. Other factors included the rescue of General Motors and Chrysler and a payroll tax holiday that put more money into people’s pockets that circulated back into the economy.
We all know what is meant when referring to the “mainstream media”, but it is important to point out what is meant by “mainstream economists.” That term largely refers to Keynesian economists employed by taxpayer-funded universities or government agencies. Keynesian economics is music to the ears of statist politicians and journalists because it provides intellectual cover for ever-expanding government control of the economy.
Moreover, why should we believe what the “mainstream economists” say about the impact of the stimulus anyway? It is the mainstream economists who were blindsided by the recession in the first place!
If they are clueless about the cause of the recession, why should we listen to their thoughts on what policies work to fight the recession?
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