So, once again my friends on the Republican side have been proved to be wrong. The deal forced on Obama and sane Dems by Repubs and Blue Dogs regarding tax cuts was money that could have been much better used for the good of the larger economy. Of course, none of this will stop Repubs from arguing the Stimulus is a failure or that a recovery would have happened anyway, but it would have been here sooner and better with more and greater tax cuts... evidence to the contrary notwithstanding.
I remember during Bush's first term, the joke was whatever problem he was presented, his answer was "we need a tax cut".
Only the true idiots were arguing that it wasn't going to work at all. I still stand by my thought that it could've been more effective in stimulating the economy quicker had it focused on more tax cuts and cost reduction measures for small business. So I guess Biden and the group of Democrats that were clamoring for a 2nd stimulus were pretty dumb for doing so?
I was pretty sure it was going to work. The thing that concerns me is that there may be a bubble(s) created with the govt. pumping so much money into the economy.
How could tax cuts stimulate the economy quicker when the first thing people do in tough times with extra money is save it? I haven't heard one person logically answer that question. Maybe you will be the first. On your second point, I wouldn't call people asking for a 2nd stimulus dumb. Knee-jerky or impatient would better describe them. Thankfully Obama and his economic team didn't agree. It's gonna be a long, very slow climb but at least we've hit bottom.
This. It HAD to go up, but this is a pretty damn fast turn around. I read today in the Economist that sales of new American homes increased by 11% this month, this largest monthly spike in NINE YEARS. Again, it is difficult to assess how much of this synthetic, or how much of it is 'reverse depression' growth but the light is at the end of the tunnel at last.
Or was it all the monetary stimulus and programs from the FED that are finally being felt? Keep in mind unemployment is still rising and that GDP shrank by 1.0% in the past quarter. Also keep in mind that the EPT is a left- leaning institute.
Wow, I'm 12 years old. I look at the thread title and all I can think is thats what she said. Too bad it doesn't say Stimulus Package It's Working, I would die in laughter agony.
what are those jobs? when are they coming? 2015? I'm hardly convinced. The unemployment numbers keep coming in bad
If you knew anything about basic economics, you'd know that job creation almost always lags the economic turnaround.
the goal of the simulus was to increase jobs, job creation. You cannot say it is "working" unless the jobs show up.
He doesn't know the first thing about basic economics. He also either didn't know or conveniently forget the turnaround in Reagan's first term, where job creation trailed the field like always.
