Breaking: Economic Stimulus Deal
Thu, 01/24/2008 - 12:03pm
The Bush administration and congressional leadership from both parties have reached a tentative agreement on the terms of an economic stimulus package, according to AP. Details here.
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Advancing Progressive Ideas
Left out the unemployment and food stamp extensions
By WhosPlayin
Thu, 01/24/2008 - 2:11pm
the two easiest and most cost-effective measures that could have been taken would have been to extend federal unemployment benefits and to increase food stamp amounts.
Brookings estimates that these pay back more in increased GDP than any other measures could, with increasing unemployment benefits paying back 1.7 X the amount spent.
Republicans managed to get an immediate depreciation for some business equipment purchases. This was ranked as having very little effect, since businesses tend to make these decisions based on confidence in the consumer market instead of the tax implications.
Wish the Republicans had bothered to study economics in school. Also wish the Democrats would have held out a bit longer for the quickest and most effective package. This may be too late to help, and add to our already onerous debt.
Once again, this is an opportunity for Republicans to show that they think large corporations know better what to do with money than you do. Best Congress money can buy...
Steve Southwell
WhosPlayin? Blog: http://www.whosplayin.com