Let me get this straight…
The more or less Democratic preference in stimulus is the House bill, which costs approximately $800 billion and is very effective stimulus.
The “centrist” bill is the Senate bill, which costs approximately $900 billion and is marginally effective stimulus.
The Republican bill was the DeMint amendment in the Senate, which would cost $3 trillion in foregone tax revenues and be almost completely ineffective stimulus.
And the Democrats are the fiscally irresponsible party? As you move from left to right, you get more expensive, less effective options. It would be one thing if cost were tied to effectiveness, and you had the Republicans saying, “sure, it isn’t as effective, but it is cheaper” because arguably cheaper is a virtue. But in this case apparently two wrongs makes a right for the Republicans.
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Very little stimulus in Obama’s anti-seniors health care stimulus bill. Just a lot of social re-engineering and pork.
There is nothing “centrist” about any of this.
Tax cuts revived our economies in the early 60s, early 80s and early 2000s. I was there.
I guess ignorance is bliss. Enjoy.
You said it.
I rarely feel blissful when AS spouts his ignorant BS.
The package hasn’t even left Congress, and it’s already declared “effective”. I have no doubt that much pork will have an effect, but it has hardly been proven to be a positive one.
Thinks that we should be spending on the safety net, like Food Stamps and UI insurance and Medicaid, because it has the greatest multiplier effect. Infrastructure spending, which is $150 Billion of the package, is the second best multiplier as well.
Check out Mark Zandi’s stuff on Moody’s Economy.com here:
http://www.economy.com/mark-za…
His multiplier numbers are on Page 8, for the curious.
The field has a pretty good understanding of economic multipliers related to state aid, infrastructure construction projects, unemployment insurance, etc.