Current Events — HabitableZone

Current Events » in reply to Just wondering Greg, what economic stimulus package would you suggest- that wouldn't raise the deficit?

an economic stimulus approved by mainstream economists, not one that horrified the whole profession like Bush used

Bush's "economic stimulus" is an oxymoron. I suppose it was in the sense you would consider cutting someone chest open with a chain saw heart surgery.

The principle of Keynesian economic stimulus in recessions is to spend money or cut taxes in the ways known to give the greatest multiplier effect. This maximises the money spent to its benefit of shortening a recession. This of course is nothing new, it has been accepted in a bipartisan way all over the world for decades. It has nothing to do with a Democratic agenda, you would be just as likely seeing the Tories doing this for example.

Bush's stimulus however was almost a textbook case of the worst possible way to waste money in that those tax cuts were already known in economics not to stimulate an economy very well if at all.

So now not unnaturally experts in economics almost to a man are upset at how the idiot Bush has messed it all up after in a bipartisan way they had almost succeeded in getting Reagan's crazy deficits under control.

Running an economy is a critical job like being a brain surgeon or airline pilot. If you let idiots near the buttons this is what happens. An idiot in denial is not the same thing as a qualified expert.

Log in or register to post.

The whole thread (28 posts)