The EU is doing the exact same thing. It's not great over there, but they also didn't get attacked by a hurricane, 2 planes, nor as much as a hit on energy. (The slide in EURO/USD slowed how they felt the increase in oil prices).
Given everything, I say it's good we haven't seen a recession. Bad would have been a massive, long inflation. Bad would have been if Bush's tax stimulus package wasn't introduced. Bad would be if some democrat gets elected and uses taxes to redistribute income. Bad would be if we don't do something about corporate taxes soon. Bad would be if people keep thinking raising minimum wage is good.
The best thing people could do is to realize cut min wage, cut corp taxes, leave marginal tax rates as is or cut them, encourage alternative fuels, and train unskilled workers or retrain people from a dead industry to a needed one. (and teach people to take care of themselves rather than look for a goddamn handout)
and private social security, and improve efficiency of medicare / medicaid.
Given everything, I say it's good we haven't seen a recession. Bad would have been a massive, long inflation. Bad would have been if Bush's tax stimulus package wasn't introduced. Bad would be if some democrat gets elected and uses taxes to redistribute income. Bad would be if we don't do something about corporate taxes soon. Bad would be if people keep thinking raising minimum wage is good.
The best thing people could do is to realize cut min wage, cut corp taxes, leave marginal tax rates as is or cut them, encourage alternative fuels, and train unskilled workers or retrain people from a dead industry to a needed one. (and teach people to take care of themselves rather than look for a goddamn handout)
and private social security, and improve efficiency of medicare / medicaid.






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