I must admit that I get rather frustrated when I consider the 800 billion missed opportunities of the proposed stimulus plan. More accurately, closer to 300 billion of the opportunities are missed. The frustration is that both parties hold onto pet ideologies in light of what amounts to pretty simple economics.
Basic economics
I think the formula of basic multipliers and direct jobs created is not that hard to understand. Create demand NOW!!!
Tax cuts do not create demand when people have debt to pay off and consumer confidence is this low.
Obama Losing His Cool
The other hard pill to swallow is that Obama tried to get tough as opposed to staying cool and killing then with facts and confidence. When you have the truth on your side, start gently educating the populous.
Instead, the president got snarky.
8 months ago
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