Wednesday, February 11, 2009
Steven Pearlstein argues that the ideal stimulus spending "is that which creates jobs and economic activity now, has big payoffs later and disappears from future budgets." The last criterion doesn't get much attention in many pro-stimulus arguments (including Pearlstein's), but it's important if you care about deficits . It's also important if you think the claim of government on the national GDP is limited, and you want there to be room for universal health insurance down the road . And, Paul Krugman even claims (for somewhat tricky technical reasons), it's important if you care about maximum stimulus, because "temporary government spending has a bigger effect"-- i.e. it's better at creating new demand than spending that won't disappear from future budgets.
House Democrats are pushing to have school-repair funding listed as a recurring expense; Senate Republicans want such an allocation to be a one-time-only deal.
Then haven't the much-criticized Senate centrists , at least on this one issue, helped produce a better stimulus bill --not just a lower-deficit stimulus bill, or a stimulus bill that leaves a bit of room for health care, but, according to Krugman, a more stimulating stimulus bill? ... Am I missing something? ... 11:06 P.M.
TODAY IN SLATE
Meet the New Bosses
How the Republicans would run the Senate.
The Government Is Giving Millions of Dollars in Electric-Car Subsidies to the Wrong Drivers
Scotland Is Just the Beginning. Expect More Political Earthquakes in Europe.
Cheez-Its. Ritz. Triscuits.
Why all cracker names sound alike.
Friends Was the Last Purely Pleasurable Sitcom
This Whimsical Driverless Car Imagines Transportation in 2059
- Protesters Take to the Streets to Sound Alarm on Climate Change in New York, Across the World
- Knife-Carrying White House Jumper is Vet who Feared “Atmosphere Was Collapsing”
- North Korea: American Sentenced to Hard Labor Wanted to Become “Second Snowden”
- Almost One in Four Americans Support Idea of Splitting From the Union
Did America Get Fat by Drinking Diet Soda?
A high-profile study points the finger at artificial sweeteners.