Quote:
Originally Posted by 8ballrollin
John Maynard Keynes
I think legitimate arguments for fiscal stimulus can be made. It seems we need both fiscal and monitory policy right now. But once spending on new bureaucracy begins, it can never be deflated. Two years out, any newly created bureaucracy or inflated agencies will need another funding source.
If the WH wants to underwrite a generation of social programs it should be done in a different bill.
|
First, this isn't a "trade cycle" we are going through. Second, from what I have gleaned (I certainly haven't gone through this thing line by line), most of the spending is targeted for rapid release. A construction project has a fixed beginning and a fixed end, for example, and while it is going on, thousands of people remain employed, receiving regular paychecks.
At least based on Tex's post (where he cited "egregious" examples), this isn't a "social program" bill. Construction of the Department of Homeland Security. Purchase of furniture. Sewage treatment improvements. Funding for fire stations. Funding for canal inspection. These are exactly the types of projects Keynes would have approved of.
Once again, it is debatable if these expenses are the BEST way to stimulate the economy, but I don't see much of a debate that they WILL stimulate the economy (which is what Tex disputes).