WWYD to save the economy?

[guido911]

BTW, the stimulus wasn't "mega" in any sense of the word. It was about 5% of 2008 GDP, and as I mentioned before, between a third and a half of it was tax cuts.

It was pushing 1 TRILLION Dollars. You can attempt to mask that significance by comparing it to an even greater number but I am not biting.

And to my point, where were the jobs?

[nathanm]

And to my point, where were the jobs?

www.stimulus.gov - if you didn't like my previous answer.

[guido911]

www.stimulus.gov - if you didn't like my previous answer.

http://www.recovery.gov/Pages/home.aspx

[nathanm]

http://www.recovery.gov/Pages/home.aspx

Yeah, yeah, sorry for the braino.

[heironymouspasparagus]

The jobs all went to China.  And it will be years before they come back.  Assuming we do something to start them coming back.  (It is still a net loss going on now.)

First; 200 billion?  What Would AIG Do if we gave that to real people instead of them?  200 billion - do you really think this economy could absorb that much capital to private business and entrepreneurs?  I think a lot of it would be sitting around waiting for something to happen.  Obama's stimulus made an effort on this front - there was 750 million to SBA, and even that much hasn't made it completely through the system yet.
So, point one has been put in place with a stimulus that has been disparaged by the RWRE for a year and a half.

Second.  Sounds good.  Can't happen, unfortunately.  The rationalization/comment about debt versus recession has been repeatedly shown to be wrong, but that's ok - makes a good sound bite!


Third.  Amen!  Preaching to the choir!! By the way, those recommendations to reduce is in process - we are finally withdrawing from Iraq, and starting the planning to leave Afghanistan.  Can't happen too soon.  And we have been fighting smarter for a long time.  Remember the disparagement about Bill Clinton "cutting" military spending and how he single-handedly gutted the military?  Even though he followed the Pentagon recommendations to the letter!  And then how that "gutted" military was able to route the Taliban a year or so later in Afghanistan.  Something Russia hadn't been able to do in over 10 years!  I think I would be satisfied with that kind of "gutting".

Fourth.  Great idea - give the real working men and women of this country a little taste of what the rich elitists have had for a decade.  Oh, wait...that DID happen.  Over a year ago in that same little stimulus bill that also loaded up the SBA with more money than they can use.  The biggest tax cut in the history of the world - ever.

Good ideas!  Pretty much all in place thanks to the lack of Bush we have right now.

Are you sure you aren't a closet Democrat??  You sure are toeing the party line here.  If you start messing with the 2nd amendment, expect a major argument!!  Just saying...

[nathanm]

Upon consideration, I wasn't "masking" anything. Spending $10 would be a whole freaking lot if the GDP of the US were $11. Spending 55 cents would not be so outrageous.

[Gaspar]

Unemployment benefits are stimulative, in that without them, the unemployed would have zero income. It's a good immediate stimulus, but not something that is sustainable in the long run, obviously.

They are a very minor economic stimulant and meaningless if you do not first stop the bleeding.  You have to employ a coordinated effort to bolster the unemployed while opening economic opportunity for the private sector to create jobs.

The mistake we made was to bolster unemployment and fund temporary public sector jobs.  This is a far more expensive endeavor with limited results, but it was the only option that the administration had without turning on their principals.  Because the administration had taken the stance of fighting the evil banks, and the evil rich, and the evil Wall street, and the evil entrepreneurs, they essentially cut the legs off of any workable stimulus plan.

Sure, infrastructure is good, but it only causes temporary employment and an unfunded burden.  The actual return it offers (and it does offer returns) takes years, and decades to realize.  During that time it must be maintained.  It's a very long term investment, not a stimulant.

[heironymouspasparagus]

Amazing how the facts can so solidly entrench wrong beliefs, as we have heard the last couple of weeks.

The stimulus plan HAS (and IS) been working.  That's why the economy IS getting better.  Just gotta be open to looking at the reality around you.

Jobs won't ever come back at a good pace until Corporate America finally wakes up to the realization that if you go oversees, there is no way the displaced here can actually buy their products.  Henry Ford understood reality.  I wonder why our corporate non-leaders today don't??

[RecycleMichael]

I would have gone to Vegas and bet $100 billion on the Saints to win the Super Bowl. At that time they had 50 to 1 odds.

Then I could have balanced the budget and have enough leftover to paint the White House a new color.

[nathanm]

They are a very minor economic stimulant and meaningless if you do not first stop the bleeding.  You have to employ a coordinated effort to bolster the unemployed while opening economic opportunity for the private sector to create jobs.

Much of the stimulus was tax cuts. What other Chicago-school policies would you have him implement?