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

To: Dale Baker who wrote (114468)7/3/2009 10:28:53 AM
From: Paul Kern  Respond to of 543022
 
The question no one wants to deal with - if we haven't spent enough fast enough, why?

1) Because they had to water down the original stimulus to appease certain members of Congress and the Senate.

2) Because they never considered revenue sharing and a business investment tax credit which have proven their efficacy in the past.



To: Dale Baker who wrote (114468)7/3/2009 10:36:58 AM
From: Bearcatbob  Read Replies (1) | Respond to of 543022
 
"Because no private company or bureaucracy can spend that much money that fast unless they hand the money out on street corners or just give every company in the Fortune 500 a $1 billion grant tomorrow. Can't be done. So if we pass a second stimulus, what happens? More appropriated funds sit in the pipeline waiting for the system to get them spent."

Your question restores the argument of giving the stimulus to the people. For instance - subsidize mortgages to 4.5% - the recent rate rise slowed refi. Also - suspend the wage tax for say 3 months - with a phased return.

The needs to go to the people - not agencies and certainly not the establishment of new agencies. The Obama stimulus contained cushion and stimulus. I assume the cushion - unemployment and state subsidies - is being spent - but the job creation stuff is the slow part.

A major growth issue is also to resolve tax uncertainties in the cap and trade and medical plans. The huge unknown tax implications of these monsters is a huge disincentive. The plan is failing in execution and failing due to counter stimulus actions by the administration.

Bob



To: Dale Baker who wrote (114468)7/3/2009 10:51:28 AM
From: JohnM  Read Replies (1) | Respond to of 543022
 
There is clearly need at the state level, which, as Krugman notes, was a target of the so-called "moderates." That money could be put to use right now, stopping layoffs at a minimum.

The problem is, as Krugman notes, the politics. His column is meant to put some push on the side of more stimulus sooner. He's quite well aware of the political difficulties. Just, my guess is, hopes his column can help push more stimulus a bit faster.


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