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Politics : Mainstream Politics and Economics
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To: Steve Lokness who wrote (6616)1/9/2012 12:02:26 PM
From: Bearcatbob2 Recommendations  Read Replies (1) of 85487
 
What has failed?

First of all our current "recovery" is the result of many initiatives. I will grant that some of the components of the stimulus effort were good - eg 100% expensing of equipment and actual infrastructure. I think approximately 1/3 of the stimulus was spent this way. The expensing of equipment investments and actual infrastructure will actually continue to yield results.

Also, do not forget there was the extension of the Bush tax cuts and QE 2.

This is in contrast to money that went into payoffs to cronies For instance, many of the government employees simply continued in their bubble world and are now being laid off. Nothing was gained for that delay - except payoffs to those who supported him. If money was to be given to government employees some give back should have been obtained - give back that would yield long term benefit. Hell, some of the money was used to give government employees raises.

Additionally, I do not know how much of the spending has been made permanent - as the deficit has not gone down. The money should have been spent on projects that produce ongoing results - not simply postpone pain.

Also, I would have unleashed the domestic energy industry to displace foreign oil and the $800 million a day we send overseas.

Bob
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