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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Suma who wrote (102826)	2/2/2009 2:11:15 PM
From: Steve Lokness	Respond to of 542169

Suma; You make a great point that banks were given money with "no specifications" as you say. But isn't that what the public is doing now, looking at what is in the bill, not liking much of it and saying .......wait a minute. online.wsj.com

To: Suma who wrote (102826)	2/2/2009 2:13:22 PM
From: Travis_Bickle	Read Replies (2) \| Respond to of 542169

I think borrowing and disbursing another 800b is a bad idea regardless of how it is spent. Imo it is impossible to determine whether it will help, as we have to take into account possible future negative consequences of the borrowing and disbursing. The economy will recover spending bill or no spending bill, it's a question of when ... the idea is that with the bill the recovery will be sooner rather than later ... but it is impossible to say how much sooner. If it is a matter of 12 months, would it be worth 800b? 24 months? 48 months? There seems to be agreement that unemployment will keep rising, but nobody knows how much, and what the differential would be spending bill/no spending bill. Is it worth a 3% differential? A 5% differential? Between TARP and the new bill we are looking at 1.5 trillion dollars, and we are still in Iraq which is probably pretty expensive ... the smart people say the cure for a couple of decades of spending money we don't have is to spend more money we don't have, there is no way to prove who is right and who is wrong.