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They've got five-Trillion dollars left on the credit card.Economists increasingly giddy at prospect of $3 trillion Biden infrastructure plan
S&P predicts Biden's infrastructure plan will create 2.3 million jobs by 2024.
Most economists agree; the government should continue injecting money into the US economy to stimulate consumer buying, employment, and economic growth.
The reality that we have driven the nat'l debt to such high levels during a time when interest rates are near zero and NO infrastructure work has been done is disturbing at best. $3T is nice, we need more like a $10T infrastructure plan.Economists increasingly giddy at prospect of $3 trillion Biden infrastructure plan
S&P predicts Biden's infrastructure plan will create 2.3 million jobs by 2024.
Most economists agree; the government should continue injecting money into the US economy to stimulate consumer buying, employment, and economic growth.
There's a limit even to a Keynesian bail out. It all sounds so lovely until we come up short, and we will. Look at the examples. The EU has been bailing out until it demanded austerity on the part of Greece. Rich nations just like rich people are not immune to over spending. This is reckless spending until we see some serious results in terms of an upsurge in American economic strength and American manufacturing brought home and even a dent in our deficit in terms of what we're spending now. Thanks!!
I'm not talking about a bailout, I'm talking about an infrastructure plan. Much of our technology is 100 years old, and many of our roads and bridges are older. The pandemic has shown that nationwide broadband is not a good idea it is required. New infrastructure would mean new manufacturing, but it wouldn't mean new jobs.
Regardless, we should not be making plans of this magnitude until we steady the ship. What you are suggesting is that we take on more water, when we've already flooded the decks. Biden is trying to be the second "New Deal" president, but there's a big difference between the economy that Roosevelt faced and the economy that Biden is facing. We weren't awash in debt back in Roosevelt's time, and even more to the point - despite Franklin's efforts - we never really pulled out of mediocre economic conditions until WWII. Biden is spending like a madman while we're already facing the greatest debt load in US history. Our biggest problem is that too many people think that the Keynesian path is limitless. It's not. And we have to be realistic or we'll go the way of Greece. Thanks!!
Rereading this post I meant to say that the manufacturing that returned wouldn't mean new jobs (automation), but the infrastructure repair most certainly would create jobs.
Every infrastructure job creates work, work creates tax revenue. The only way (imo) out of this is growth. I also reject your Greece comparison. The natural and economic resources of the two countries are not comparable.
But philosophically they are, and resources have little to do with it. I don't care how much resource you have, if you're outstripping before replenishing, it will make for an economic problem. Thanks!!
Sorry, meant to say 'untapped' resources. Besides, debt only matters when there is a D president.
Not true. It matters across the board. Thanks!!
Couple of problems. The government is going to be about 7 trillion in debt over the Covid relief bail outs and the infrastructure bill if the dems do what they are talking about. For the economist that may look good on the short term because it's putting money into circulation. Keep in mind it's government printed money that on the long term will have to be paid for in the future or it will be a real problem that will harm the long term economy. Democrats don't usually look too long term, their answer always being just print more or tax more.Economists increasingly giddy at prospect of $3 trillion Biden infrastructure plan
S&P predicts Biden's infrastructure plan will create 2.3 million jobs by 2024.
Most economists agree; the government should continue injecting money into the US economy to stimulate consumer buying, employment, and economic growth.
How can that be untrue, both are critical factors of production? That would be like comparing two peoples wealth and ability to increase that wealth by measuring what each have in their pockets when one has minimal other assets while the other has a massive bank account.
yup, George Soros is behind this spending bill.
The debt servicing is 6% of GDP, well within what the nation can handle. Moreover, the plan calls for raising taxes on corporations.
The only way out of what? The economy is growing. Unemployment is low and falling. We arent in a recession. What is it you think we need to stimulate ourselves out of?