Economic stimulus package

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austintexas

Guest
This thing is looking like a true, bi-partisan effort with both sides conceding, agreeing, moving forward. It's very refreshing, though obviously will be short-lived given we're in a presidential election season.

Bush backed off insisting his tax cuts be made permaent in this package, choosing to fight that fight on its own merits. Good concession.

Pelosi, et. al.seem to agree that rebates for the low-earners and temporary business tax cuts are a good vehicle for the stimulus.

I am far from an economist. I don't see him around here much lately, but Gardner Barnes is an amateur economist. Would love to hear others thoughts.

Article from Chicago Sun Times:The Link
 
Stupid. Any package will be a pebble in the Mississippi that is our economy. Of course any pol that tells truth to power in this regard will get punished by people either too ignorant or chronically compassionate to understand that.
 
Great! Now let's cut spending.

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softly,
are there circumstances in which you would favor cutting spending? there's really no question we have a spending problem, wouldn't you say?
 
...the road goes on forever and the party never ends

That keeps playing in my head every time I hear about this stimulus. I think this is a sign of desperation by the administration and their economists.
 
Well, for one, the system is designed such that money is created from debt. For every dollar that somebody owns, somebody else has a debt of one dollar. If everybody payed down their debt, the money supply would shrink until there would be no money left anywhere. So, from that point of view, debt is essential. It sounds messed up, and it is. I don't really understand why it has to be that way.
 
I can grudgingly accept the need for this stimulus package, but to me, it only underscores and illustrates the poor targeting and ineffectiveness of the 2003 package.

Washpark says that the 2003 package "ushered in" the recovery. I would say that while it provided some meager growth, had the 2003 package been targeted at payroll taxes the same consumer spending would have happened, except it wouldn't have been debt-financed, thus obviating the need for much of the current package.

Of course I posted all this then, along with the observation that we were in recovery as it is, and that as the recovery was already taking place in a satisfactory way that the need for any package was questionable.
 
my wife works in an industry that is nearly impervious to economic swings
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Is your wife a stripper?
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FYI, the stock market has lost 15% of its value since Oct 10th, when it reached an intra-day peak of 14,225.

IMO, only a major technological breakthrough, specifically automotive or energy-related, will lift our economy out of a slow growth, if not slow decline, over the next 10 years.
 
HelicopterBen-smiles.gif


Get ready for double digit inflation, gasoline has never put out a fire and it won't this time either.
 
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