Well, he could try to extend ARPA… but I doubt he’d do it. Would you support an real stimulus bill, not the token that Congress passed, ComYics?
Personally, I am of the opinion that yes, it is at times of crisis that you should spend. You save for rainy days, not on them. Unlike in the early 80’s, we have nowhere near high inflation; the 30s might be a better parallel.
You know what, maybe the stimulus had a blatant flaw - it was too small. Yes, I know - approximately 780 billion dollars aren’t chickenfeed. Yet over a third of that was tax cuts, and another 140 billion was fiscal relief for the states. So the stimulus was… about half of the entire thing.
Let’s remember something else - in late 2008, there were fears that the Chinese economy - which focuses on exports and was supposedly in very, very deep fecal matters. So they had a stimulus as well, slightly over 500 billion USD - but that is for the CHINESE economy, which is less than a third of the US. Their stimulus was approximately 13.5% of their annual GDP; as opposed to the 5.5% that the ARPA was given. And it got put in the economy fast. China not only avoided disaster, but recovered quickly and is supposedly in an even better position.
Yes, deficits are not something to be accumulated lightly. But there are times when deficit spending may be preferable to the alternative - twiddling your thumbs and praying that the arcane laws of the metaphysical perfect market will enable a fast recovery. I do not know about you, but I was taught God helps most often those who help themselves.
“How about giving us OUR money, to us.”
Well, he could try to extend ARPA… but I doubt he’d do it. Would you support an real stimulus bill, not the token that Congress passed, ComYics?
Personally, I am of the opinion that yes, it is at times of crisis that you should spend. You save for rainy days, not on them. Unlike in the early 80’s, we have nowhere near high inflation; the 30s might be a better parallel.
You know what, maybe the stimulus had a blatant flaw - it was too small. Yes, I know - approximately 780 billion dollars aren’t chickenfeed. Yet over a third of that was tax cuts, and another 140 billion was fiscal relief for the states. So the stimulus was… about half of the entire thing.
Let’s remember something else - in late 2008, there were fears that the Chinese economy - which focuses on exports and was supposedly in very, very deep fecal matters. So they had a stimulus as well, slightly over 500 billion USD - but that is for the CHINESE economy, which is less than a third of the US. Their stimulus was approximately 13.5% of their annual GDP; as opposed to the 5.5% that the ARPA was given. And it got put in the economy fast. China not only avoided disaster, but recovered quickly and is supposedly in an even better position.
Yes, deficits are not something to be accumulated lightly. But there are times when deficit spending may be preferable to the alternative - twiddling your thumbs and praying that the arcane laws of the metaphysical perfect market will enable a fast recovery. I do not know about you, but I was taught God helps most often those who help themselves.