An Internet hub for moderates, centrists, and independents, with domestic and international news, analysis, original reporting, and popular features from the left, center, and right

« Mark Sanford’s Scandal Reaction Brain Trust

Rolling on the River »

Stimulus Stew

Posted by ROBERT STEIN in Economy, Politics.
Jul 11th, 2009 | Comments

The state of the economy is iffy at best but, less than six months after its passage, the market for badmouthing the stimulus bill is booming.

On the left, Paul Krugman insists that a “bad employment report for June made it clear that the stimulus was, indeed, too small” and “damaged the credibility of the administration’s economic stewardship.”

From right field, House Minority Whip Eric Cantor tells us “the stimulus or so-called stimulus plan that spent almost $800 billion has not worked,” while economist Karl Rove proclaims that “Obama can’t be trusted with numbers” as he bashes the White House for being too slow in getting the money out the door.

In the center, Warren Buffet is musing about the need for a second round of pumping money into the economy, complaining that the first was “like taking half a tablet of Viagra and having also a bunch of candy mixed in…as if everybody was putting in enough for their own constituents.”

Meanwhile, Joe Biden is on a tour touting positive results here and there, as the Recovery blog announces web seminars (Webinars) to spread the good news.

MORE.

  • superdestroyer
    Krugman is to government spending as the Republicans have become to tax cuts. to Krugman, every problem can be cured with more government spending. Of course, that the future tax hikes required to support current government spending will deter the private sector from investing is something that cannot ever be considered by Krugman and his associates.

    The question for the future is can the public sector grow while the private sector collapses?
  • Father_Time
    Republicans run like cowards when it comes to taking responsibility for our failing economy. President Clinton left us in excellent shape, but well, eight years of dufus conservatism borrow and spend deficits has left President Obama with doing what he can. Which is to provide a stimulus that will either work or delay the republican created inevitable depression. Just like the first republican depression.

    Republican’s govern by Credit Card.
  • superdestroyer
    President Clinton was the more libertarian administraiton ever. No new entitlement programs, no changes to the tax laws, no new regulatory programs and right wing programs such as freer trade and welfare reform.

    The Obama Administration is a continuation of borrow and spend big government programs that was tried during the Bush Administraiton. Unless the U.S. starts bombing all of the factories in China, India, and Japan, the idea that public stimulus will help the economy will help in the long run will fail. WWII increased the value of American factories because all of the rest of the world's were bombed out of existence. Unless Krugman figures out how to do this, the idea of public stimulus just leads to higher taxes, higher unemployment, and a collapsing economy.
  • Father_Time
    superdestroyer--

    Again irrelevant. A President must try or be condemned for not trying. The idea that the idea of public stimulus leads to higher taxes, higher unemployment, and, collapsing economy is subjective. Though we obviously need higher taxes, higher taxes under Clinton DID NOT lead to higher unemployment or (laughing a bit here), a "collapsing economy". If the economy collapses, by whatever degree, the problem was undoubtedly caused by the Bush administration and conservative economic ideology so damaging that a new administration of any kind would be powerless to stop it. It is in reality the final stage of the greatest transfer of wealth, that the nation if not the world has ever seen, that began with the first Bush budget.
  • NRafter530
    WWII increased the value of American factories because we were forced to build up the largest defense system ever imagined.
blog comments powered by Disqus
© 2005-2009 The Moderate Voice | Site design by Elegant Themes | Site customization, hosting, and security by Enxit Group, LLC