Blog on the Run: Reloaded

Sunday, October 6, 2013 1:41 pm

How to restore confidence in the economy


Commenter Christobal Juanes in John Burns’s feed on Facebook:

Man, you know what would really help restore confidence in the economy? Investors not having to worry that the US is going to default on its obligations every couple of months because a political minority that can’t accomplish its myopic, selfish goals through the traditional, constitutionally-designed process holds the economy hostage.

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2 Comments »

  1. How about another confidence restoring stimulus package like the one that was pissed away on stoopid, crony,driven projects (er, can you say Solyandra )

    How the 800 billion stimulus failed

    “Officially called the American Recovery and Reinvestment Act, the $800 billion stimulus was the largest economic recovery program in history. Adjusted for inflation, it was nearly five times more expensive than the Works Progress Administration. It was bigger than the Louisiana Purchase, the Manhattan Project, the moon race and the Marshall Plan.

    Economists and nonpartisan forecasting firms estimate that the stimulus created and saved more than 2 million jobs. It generated an unprecedented buzz around clean energy. A relatively small pot of education grants goaded 32 states to enact major reforms, such as tying teacher pay to student performance or lifting caps on charter schools. When the last dime is spent, more than 41,000 miles of roads will be paved, widened and improved; 600,000 low-income homes weatherized; and more than 3,000 rural schools connected to high-speed Internet.

    But despite these achievements, the stimulus ultimately failed to do what America expected it to do — bring about a strong, sustainable recovery. The drop kick was shanked.”

    Comment by Fred Gregory — Sunday, October 6, 2013 3:10 pm @ 3:10 pm | Reply

  2. One, the stimulus needed to be two to two-and-a-half times larger than it was to work fully, and plenty of reputable economists warned that at the time. Two, it needed to be less weighted toward tax credits and more weighted toward direct spending, which would have had a faster and more direct effect on consumer spending. Third, since when is the New York Post a repository of disinterested economic analysis?

    Comment by Lex — Sunday, October 6, 2013 3:38 pm @ 3:38 pm | Reply


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