What about the loan guarantee for nukes -- The Republicans aren't complaining. I suspect what we have to look out for is what the Republicans like.
On Thu, Feb 05, 2009 at 06:46:41PM -0500, Robert Naiman wrote: > Is there any objective basis for assessing what percentage of the > stimulus consists of "special interest nonsense"? I think to ask this > because CEPR just put out a piece noting that everything the > Republicans have been complaining about amounts to less than 2% of the > package. > > On Thu, Feb 5, 2009 at 6:38 PM, Michael Perelman > <[email protected]> wrote: > > I do not pretend to be an expert on stimulus plan, but it seems to be too > > little, misdirected, too much infected with tax cuts, and filled with > > special interest nonsense. > > > > The Republican speak authoritatively as if tax cuts are the best way to get > > investment going, but real investment, the kind that results in the > > production of goods has been terribly anemic in spite of decades of tax > > cuts. > > > > I do note that one of the most direct ways during the recession is to > > eliminate costs, including debts, that hold the economy back. Letting > > assets falling value raises the rate of profit, once the realization sets > > in that the asset prices have hit bottom. > > > > Leaving banks fail and writing off debts will cause some dislocation, but > > they will leave both the economy and society stronger. > > > > In terms of getting money spent, putting it in the hands of the poor and > > the unemployed seems far more reasonable likely to create spending than to > > give to the rich, who may just pump up asset prices once they feel > > confident, undoing some of the stimulus. > > > > In terms of public works, Gray Brechin, has been doing remarkable research > > showing how much the public works of the New Deal have contributed to the > > country to this present day. The government has the opportunity to sell > > bonds at less than 3%. Interest costs of public works represent a > > significant part of the total costs. Taking advantage of the bargain > > basement cost of credit now represents a major savings, increased jobs, > > plus the opportunity to make a significant contribution to both the economy > > and society. > > > > > > -- > > Michael Perelman > > Economics Department > > California State University > > Chico, CA 95929 > > > > Tel. 530-898-5321 > > E-Mail michael at ecst.csuchico.edu > > michaelperelman.wordpress.com > > _______________________________________________ > > pen-l mailing list > > [email protected] > > https://lists.csuchico.edu/mailman/listinfo/pen-l > > > > > > -- > Robert Naiman > Just Foreign Policy > www.justforeignpolicy.org > [email protected] > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
