- We knew last year that unemployment was heading over 10 percent (i.e., where it is now) and we were just going to have to hunker down for the ride.
- Shovel-ready never meant "shovel ready." No matter how efficient you are, it takes time to get up-to-speed on a new brick-and-mortar project--i.e., a project that will actually juice up the economy, instead of merely replacing something that was going to happen anyway.
- As against new spending, tax cuts are just not a persuasive alternative at this moment. Sure, everyone would like tax cuts. But with so much money already lying on the table unused, it just isn't plausible that a new round of tax cuts will generate new economic activity (and besides: as a percentage of GDP, taxes are already comparatively low).
Update: This guy thinks so, too.
1 comment:
This gal thinks so too. It's very frustrating, especially since, even if he's not an explainer, he's surrounded by people who are politically powerful and savvy enough to find explainers and put their "ten words or less" isms up on a teleprompter for the main man to read.
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