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Politics : View from the Center and Left
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To: Lane3 who wrote (92941)11/1/2008 5:59:46 PM
From: Paul Kern  Read Replies (1) of 541929
 
I'm skeptical about infrastructure as stimulus given the time lag but I was interested in his notion of using a commission to determine priorities. Congress is terrible at setting priorities.

Revenue sharing, used in the 70s recession, if I remember, worked well to prevent deflation.

First, it allowed states, counties, and municipalities to keep people on the payrolls and, hence still purchasing.

Then it allowed local initialization and control of infrastructure projects to employ more people and get more money moving around the economy more quickly than big, complicated federal projects.

Whether the projects were really needed, intelligent, or well thought out wasn't the point. The purpose was to keep folks employed and to employ the unemployed.

Later, a similar, smaller program was called block grants.
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