jujuman said:I do not pretend to be an economist but even I can see that Obama stimulus is a busted flush,
Yes, we definitely need another dose of stimulus. The last thing we need are euro-style "austerity measures" that will doom our economy to several years of anemic growth.
And you base this on what exactly?
The US authorities have an entirely different explanation for the failure of stimulus measures to gain full traction. They are opting instead for yet further doses of Keynesian spending, despite warnings from the IMF that the gross public debt of the US will reach 97pc of GDP next year and 110pc by 2015.
I agree in principal that we need another one, but since we have such high debt (thanks to every president since Carter, but mostly to Bush 2) we probably cannot afford it.
Our debt is not intolerable. It's on the high side, yes, but we're hardly teetering on the verge of bankruptcy. Another dose of stimulus will help the economy grow, which will help us reduce our debt-to-GDP ratio in the long term.
Yes, we definitely need another dose of stimulus. The last thing we need are euro-style "austerity measures" that will doom our economy to several years of anemic growth.
And you base this on what exactly?
kandahar,
What kind of stimulus would you propose? Spending or tax cuts, or both? If both, which one would you place more emphasis on and why?
In my opinion, any stimulus ought to consist primarily of tax cuts. I believe the psychological effect this would have on consumers and producers would help restore and sustain confidence in the economy. I don't think this administration is being accommodative enough towards the private sector, which is the true source of economic prosperity and stability.
kandahar,
What kind of stimulus would you propose? Spending or tax cuts, or both? If both, which one would you place more emphasis on and why?
alms said:In my opinion, any stimulus ought to consist primarily of tax cuts. I believe the psychological effect this would have on consumers and producers would help restore and sustain confidence in the economy. I don't think this administration is being accommodative enough towards the private sector, which is the true source of economic prosperity and stability.
I wouldn't be opposed to tax cuts...but I think they should mostly be geared toward corporations. Our income taxes are already low enough (perhaps too low) IMO. Cutting the corporate tax rate could definitely help stimulate the economy.
On two fact
1) if first one had worked, they (Obama) would not be talking about a second one.
jujuman13 said:2) Unemployment continues to rise.
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