When judging the effectiveness of stimulus in the short term, you simply couldn't take the Republicans at their word. One reason was their own hypocrisy. Eric Cantor, who became the House majority leader in 2010, was a case in point. In March 2009, he appeared on ABC News to deny the notion that government spending could bolster the labor market. "It can't create jobs," he said. "It can't create wealth." Yet seven months later, he wrote to the Department of Transportation asking for budget money to do just that. His letters said that a $74.8 million high-speed rail project would "create 281 jobs during each year of construction" and that $60 million in loan guarantees for shipbuilding would generate "thousands of jobs in the shipyard and supplier base for two to three years."The Chicago Initiative on Global Markets asked its panel what would happen to tax revenue over the coming decade if income tax rates went up by one percentage point for the top earners. Reagan and McConnell's logic would predict a fall in revenue. Ninety-three percent of the economists on the panel said it would rise. Emmanuel Saez of the University of California at Berkeley, one of the world's top experts on taxes and income distribution, made direct reference to the curve: "Based on best estimates and even with current tax code, U.S. top rate is still significantly below revenue maximizing tax rate."There is bunch of other stuff in there. You have to read AND follow the links.For economists, the classic role of government is to correct failures in the market. These often occur when the private sector can't provide something that all of society wants and needs. No American has enough incentive to buy an aircraft carrier, but by banding together through government we can buy enough of them to defend ourselves. The same goes for some of the economy's most important needs: infrastructure, universal education, and basic research in the sciences. Investing in these critical pillars of our economy pays huge dividends in the future. Reports from the United States and United Kingdom have found evidence that a dollar spent by the government on basic research in physics, chemistry, biology, and related fields pays back as much as 50 percent more in economic growth.
Yet Republicans have often lumped these investments in with every other kind of spending. Their reaction to the stimulus package in 2009 was no different. A report by McCain and his Republican colleague in the Senate, Tom Coburn, singled out several scientific projects for disdain. They compared one project, dubbed "Facebook for Scientists," to propaganda, even though its purpose was to make collaboration between researchers easier. Bizarrely, they named a research project mapping cancer patients' responses to chemotherapy under the same heading. In another section of the report, a study on primates of how addiction was related to chemicals in the body was labeled "Monkeys Get High For Science."
If you post that go-to graph, provide context.
What was the Democrats excuse before 2010? Oh yeah, "It's George Bush's fault!" Whaaaa. . . fvckin' worthless sacks.
Hype and Blame I tell ya, Hype and Blame.........
The rank stupidity of the premise put forward by that article is truly stunning. We have had nearly $a trillion$ in stimulus spending since The One took office. Did unemployment stay below 8%, as promised? Did it have an immediate big positive impact on growth, as promised? Did it create hundreds of thousands of "shovel-ready jobs", as promised? Were two million Americans lifted out of poverty, as promised? Did the 'green economy' stimulus create millions of jobs, as promised? Were one million new electric cars built, as promised? No, it was all a massive failure. But the Repubs are evil because at this time when the nation is dead broke, they did something absolutely horrid; the blocked the Dems from spending nearly $another trillion$ in stimulus.
I don't know if you guys ever had these people in your classes or not. You always have these same people answering all the questions, even the rhetorical ones. fxxking annoying! Once a while some professor would have the guts to tell them off in front of the whole class. Most professors would get away, but there were some unlucky ones who actually got reprimanded.
give other people a chance to answer! You don't always have to be the first one.
Maybe we could have a Special Olympics board for the slower posters.
Last edited by Ought Six; 07-24-2012 at 07:43 PM.
politics is sabotage
I was one of those kids that sat there until no one else would raise their hands, and the instructor would kind of sigh, and ask me to answer.
And then answer too long.
You know, I used to subscribe to FP. I canceled my sub though when they started putting out dumber and dumber articles. It finally came to a head for me when they did an issue on why Marxism was still relevant, and not a disgraced ideology. Canceled the day I got that issue, and I never looked back to them...
I see they're still putting out quality literature.
From 2008 to 2010 the Dems controlled Congress the Repubs couldn't stop them at all. Yet they couldn't pass a budget and still won't in the Dem controlled Senate.