Sherrod Brown Sucks at Economics
Progressive loon Nancy Pelosi (D-CA) has argued time and again that unemployment benefits are a great way to create jobs. As RedState readers know, Pelosi isn’t the only congressional Democrat to build a career coaxing the masses into Washington’s crushing embrace.
Where there’s a Progressive economic fallacy, Senator Sherrod Brown (D-OH) is never far away. Sherrod seems to think the U.S. economy performs best with bureaucrats working all the levers. This is his 20th year in Congress, so maybe we should forgive his ignorance of how a free market works!
During the 2010 debate over extending the Bush tax cuts, Sherrod made one of his frequent MSNBC appearances to share his rendition of the broken window fallacy:
As an Ohioan, Chris Matthews fawning “you’re the best there is on this argument” is not what I hope for from my senator.
I am impressed, though, with the way Sherrod Brown knows what every wealthy American is going to buy! I wonder how long he had to look into his crystal ball to be absolutely sure extending unemployment benefits is better for the economy than letting citizens keep and invest our own money.
The Right Scoop has footage of Sherrod making a more detailed (but equally laughable) case on the Senate floor around the same time as this Hardball spot.
Like Pelosi, Sherrod also argued for the “stimulus” effects of unemployment benefits in the summer of 2010:
Many have lost their job and, as a result, they lost their health insurance. After that, they lose their home or apartment because they can’t afford the mortgage or rent. Passing an extension of unemployment insurance isn’t just the right thing to do – it will also help stimulate the economy and serve as a critical part of a jobs agenda that puts the middle class first.
Emphasis mine. Sherrod’s solutions for the crises in health care, housing, and unemployment are one and the same – government redistribution, paid for by “The Rich” with a wave of the hand.
Self-righteous demands for shortsighted spending are exactly what we should expect from a Progressive who can’t even manage his own property taxes. The silver lining: Sherrod Brown is up for reelection in November, and Ohio is not California.
Transcript from the Hardball clip follows.
Sherrod Brown: These tax cuts for the rich that Bush did twice, Chris, in ‘01 and ‘03 as you know, resulted in very little economic growth. We saw only 1 million jobs created in the Bush years, 22 million created in the Clinton years, when we reached a balanced budget with a fairer tax system, and there is no, there’s no real history illustrating that these tax cuts for the rich result in jobs. It’s extending unemployment benefits that creates economic activity that creates jobs – not giving a millionaire an extra 10 or 20 or $30,000 in tax cuts that they likely won’t spend because they’re already buying what they’re gonna buy anyway.
Chris Matthews: You’re the best there is on this argument. Sorry, I’ve gotta ask you one last question…
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