Who supports the economic stimulus package?

[CARLHAYDEN]

President Bush and Democrats in Congress (not to mention the Chairman of the Federal Reserve) avor an economic stimulus package, which includes tax cuts and rebates.

So, where do the candidates for the party nomination for President stand?

Here's a cite for more info:

http://www.politico.com/blogs/thecrypt/0108/Bush_Congress_on_same_track_with_fiscal_stimulus.html

[MODU]

Are you asking which Presidential candidates support it, or just which forum members?

[I spent the winter writing songs about getting better]

Someone made a good analogy that the economy is like a guy with a faulty pacemaker and the government is like a team of paramedics who follow him around zapping him with a defibrillator whenever it fails instead of bothering to just fix the pacemaker.

[CARLHAYDEN]

Are you asking which Presidential candidates support it, or just which forum members?

As I noted, the candidate for the Presidential nomination.

I suspect that McCain will try to avoid answering this one, or give one of his I do/I don't answers.

[MODU]

Are you asking which Presidential candidates support it, or just which forum members?

As I noted, the candidate for the Presidential nomination.

I suspect that McCain will try to avoid answering this one, or give one of his I do/I don't answers.

From the little that I've read on this (been a very busy week), Killary had some similar recommendations, though hers were more broad and lacks the specifics as laid out in the Bush proposal.  I would assume she would not support it (for political reasons), even though they are similar.

[CARLHAYDEN]

I think that just about every candidate of both major parties will endorse the proposal, while noting that they would want a little more money for this or that, than the actual legislation specifies.

Opposing the economic stimulus package as the economy crumbles will probably be economic suicide.

[Person Man]

Someone made a good analogy that the economy is like a guy with a faulty pacemaker and the government is like a team of paramedics who follow him around zapping him with a defibrillator whenever it fails instead of bothering to just fix the pacemaker.

[War on Want]

I do, but I am against Bush's stupid tax breaks. We should just give tax rebates to the Lower Tax brackets, and increase unemployment benefits, and maybe give some incentives to small businesses.

[jokerman]

Someone made a good analogy that the economy is like a guy with a faulty pacemaker and the government is like a team of paramedics who follow him around zapping him with a defibrillator whenever it fails instead of bothering to just fix the pacemaker.

True, we can only spend our way out of economic trouble so far.  In my opinion if we don't address issues of human capital and innovation we won't be able to keep our economy on the right track in the long run.

[I spent the winter writing songs about getting better]

At the very least this plan should be made progressive so that the most goes to poor and middle-class people, which is what would be needed for economic stimulus anyway. How is giving a millionaire an extra $800 going to do sh!t?

[Kevin]

I'm opposed to Bush's plan on this.

[ottermax]

I'm not very good at economics, but my logic is that:
Giving more money to people will cause them to believe they can spend more, which will encourage them to start buying loans and more than they can afford rather than saving their money.
If we save too much money we will still be hurt anyways because consumers will not be buying.
If someone receives a tax break, what will they do: spend it on something more expensive such as a nicer car or bigger house, or will they save it?
Either way, it seems as if the problems will get worse. 

[Storebought]

Someone made a good analogy that the economy is like a guy with a faulty pacemaker and the government is like a team of paramedics who follow him around zapping him with a defibrillator whenever it fails instead of bothering to just fix the pacemaker.

True, we can only spend our way out of economic trouble so far.  In my opinion if we don't address issues of human capital and innovation we won't be able to keep our economy on the right track in the long run.

If the US ever had to depend solely on its own 'human capital', we'd sink into the Third World economic level even faster than we are already.

And this welfare check idea is absurd. Poor people will simply spend it on junk in a thrift store or WalMart, and increase our trade deficit with China.

[Person Man]

We need to create jobs by investing in infrastructure and new industries. We need to make more domestic jobs instead of giving out free money.

[jokerman]

Someone made a good analogy that the economy is like a guy with a faulty pacemaker and the government is like a team of paramedics who follow him around zapping him with a defibrillator whenever it fails instead of bothering to just fix the pacemaker.

True, we can only spend our way out of economic trouble so far.  In my opinion if we don't address issues of human capital and innovation we won't be able to keep our economy on the right track in the long run.

If the US ever had to depend solely on its own 'human capital', we'd sink into the Third World economic level even faster than we are already.

Oh really?  Perhaps you aren't aware that American workers have the highest productivity levels of the workers of any nation. 

[opebo]

Someone made a good analogy that the economy is like a guy with a faulty pacemaker and the government is like a team of paramedics who follow him around zapping him with a defibrillator whenever it fails instead of bothering to just fix the pacemaker.

True, we can only spend our way out of economic trouble so far.  In my opinion if we don't address issues of human capital and innovation we won't be able to keep our economy on the right track in the long run.

If the US ever had to depend solely on its own 'human capital', we'd sink into the Third World economic level even faster than we are already.

And this welfare check idea is absurd. Poor people will simply spend it on junk in a thrift store or WalMart, and increase our trade deficit with China.

Storebought, your hatred of your fellow poors is well noted, but the whole point of a stimulus is to have it be spent.  The poorer the recipient, the more is spent.  Thus, the best medicine for what ails are ridiculously right-wing economy is massive redistribution from the upper to the lower classes, and a dole is the best way.  That said, the long-term solution is the unionization of all jobs, imposition of high wages, etc., but right now we're just talking about preventing people from dying and the economy from plummeting.

[Јas]

Someone made a good analogy that the economy is like a guy with a faulty pacemaker and the government is like a team of paramedics who follow him around zapping him with a defibrillator whenever it fails instead of bothering to just fix the pacemaker.

True, we can only spend our way out of economic trouble so far.  In my opinion if we don't address issues of human capital and innovation we won't be able to keep our economy on the right track in the long run.

If the US ever had to depend solely on its own 'human capital', we'd sink into the Third World economic level even faster than we are already.

Oh really?  Perhaps you aren't aware that American workers have the highest productivity levels of the workers of any nation. 

Though the US is certainly above average, the most recent figures I could find (the OECD estimates of comparative labour productivity for 2004) have Belgium; France; Ireland; Luxembourg; and Norway all registering higher results than the US in this regard.

[jokerman]

Here's a report on a UN study done in Sept. 2007:
http://www.msnbc.msn.com/id/20572828/

It ranks the US as first.

[memphis]

I'd very much prefer a stimulus to be focued on the long term rather than the short term. We have a real problem with energy prices in this country that is not going away unless we address it in a meaningful way. The latest energy crisis is a huge drag on consumers and therefore the "economy."  The shafty nature of our international politics with major energy exporters (Russia, Middle East, Venezuela, Nigeria) only compounds the issue. If we're going to spend serious money, we should do it wisely. 

[Јas]

Here's a report on a UN study done in Sept. 2007:
http://www.msnbc.msn.com/id/20572828/

It ranks the US as first.

Seems to depend on one's particular choice of measurement...

IMD World Competitiveness Yearbook, 2007

Labour Productivity 2006 – GDP (PPP) per person employed per hour (US$)
France 46.91
Ireland 45.33
USA 43.99

Worker Motivation 2007
Ireland 7.18
Netherlands 7.16
Japan 7.15
Germany 6.98
USA 6.75

Flexibility and Adaptability of Workforce when faced with new challenges
Ireland 8.43
USA 7.43
Portugal 6.92

[J. J.]

President "Bobby": Mr. Gardner, do you agree with Ben, or do you think that we can stimulate growth through temporary incentives?
[Long pause]
Chance the Gardener: As long as the roots are not severed, all is well. And all will be well in the garden.
President "Bobby": In the garden.
Chance the Gardener: Yes. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.
President "Bobby": Spring and summer.
Chance the Gardener: Yes.
President "Bobby": Then fall and winter.
Chance the Gardener: Yes.
Benjamin Rand: I think what our insightful young friend is saying is that we welcome the inevitable seasons of nature, but we're upset by the seasons of our economy.
Chance the Gardener: Yes! There will be growth in the spring!

You knew it was coming. 

[J. J.]

Fed just cut rates by 75 basis points.

[Verily]

Here's a report on a UN study done in Sept. 2007:
http://www.msnbc.msn.com/id/20572828/

It ranks the US as first.

Seems to depend on one's particular choice of measurement...

IMD World Competitiveness Yearbook, 2007

Labour Productivity 2006 – GDP (PPP) per person employed per hour (US$)
France 46.91
Ireland 45.33
USA 43.99

Worker Motivation 2007
Ireland 7.18
Netherlands 7.16
Japan 7.15
Germany 6.98
USA 6.75

Flexibility and Adaptability of Workforce when faced with new challenges
Ireland 8.43
USA 7.43
Portugal 6.92

Really just an excuse to brag about Ireland, isn't it?

[opebo]

Fed just cut rates by 75 basis points.

Interest rate cuts are the only State action that right-wingers seem to accept, though redistribution of income is far more salubrious for the economy, and much more powerful.

[Person Man]

Fed just cut rates by 75 basis points.

Interest rate cuts are the only State action that right-wingers seem to accept, though redistribution of income is far more salubrious for the economy, and much more powerful.

Doesn't it seem wierd to you that money is being given out without it being earned?