Tag Archives: stimulus

While we contemplate stimulus vs austerity . . .

. . . herwith a tweet from Robert Reich, well known Clinton-era Commie (h/t UTMB, here); I will now add him to my Twitter feed.

Give them money and they will spend

It would cost $600 billion to simply give $2,000 to each of 300,000,000 Americans. If we confined it to just those who make under half a mil, say, we’d each get a bunch more. Now that would be a stimulus by golly. Narrow it further so that all the six billion ends up in the hands of adults and we’d be beating down the barn doors in a heartbeat. Instant demand! More jobs to meet the demand! GDP up! More revenue flowing into state and federal coffers!

Spend! Work! Grow! That would work, and we’re printing money anyway . . .

Note: Dr. Black (a real economist!) at Eschaton has been advocating this novel solution for a few years now. Perhaps they should have listened to him.

Media FAIL (yet again)

Bloomberg today:

“The Obama administration cut taxes for middle-class Americans, expects to make a profit on the hundreds of billions of dollars spent to rescue Wall Street banks and has overseen an economy that has grown for the past five quarters.

Most voters don’t believe it.

A Bloomberg National Poll conducted Oct. 24-26 finds that by a two-to-one margin, likely voters in the Nov. 2 midterm elections think taxes have gone up, the economy has shrunk, and the billions lent to banks as part of the Troubled Asset Relief Program won’t be recovered.”