Economists Agree Time Is of the Essence for Stimulus

[Pirate Smile]

Source: Washington Post

By Steven Mufson and Lori Montgomery
Washington Post Staff Writers
Sunday, February 8, 2009; Page A01

With Congress moving closer to adopting a $820 billion stimulus package and the Obama administration poised to unveil a new bank bailout plan, economists say that the federal government is taking its biggest role in the economy in a generation.

States that once aspired to blaze trails independent from Washington are turning to it for money, banks and businesses that once decried regulation now are seeking federal capital, grants or tax cuts and individuals are looking for tax relief.

"This is a seismic shift in the role of government in our society," said Allen Sinai, chief global economist for Decision Economics. "Those who believe the government can be an effective, positive instrument for good will have another chance to try it," said Sinai, a political independent.

While economists remain divided on the role of government generally, an overwhelming number from both parties are saying that a government stimulus package -- even a flawed one -- is urgently needed to help prevent a steeper slide in the economy.
Many economists say the precise size and shape of the package developing in Congress matter less than the timing, and that any delay is damaging.



Read more: http://www.washingtonpost.com/wp-dyn/content/article/20...

[Tuesday Afternoon]

1. It is already too late...ymmv

[Quixote1818]

2. Yep, they should have done this a year ago. nt

[Triana]

3. Republicans wank and whine while the economy collapses. Pfft! n/t

[The Wielding Truth]

15. So what does this tell you?? They want to starve our government!

[PM Martin]

4. The current bill doesn't seem to be of much help.

If Lichtenstein fails, Lichtenstein fails, if American fails, the world fails.

[tama]

6. Not the world

just global capitalism.

What world - this Earth - cannot endure is global capitalism. So, good riddens, America...

[harmonicon]

11. +1

However, there would be ways for our government to allocate the resources at its disposal is such a way as to ensure that our citizens aren't going homeless and hungry without having anything to do with capitalism. Many people are in a very bad situation right now. I'm ok for another year or two, but I have tremendous anxiety about the future. While I'd love to see people recognize the inherent evils of the capitalist system, I also don't want to be 35, unemployed, and living with my elderly parents, supported by their retirement money.

[tama]

16. What retirement money?

It's all gone, down into the financial black hole of Wall Street.

I do sympathize. And hope that Americans get their act together and start caring for each other and their environment, the land that feeds them and their future generations if allowed and not raped and destroyed.

But what is happening is tent cities are mushrooming, more and more children go undernourished, society breaking down all around, anxiety and distress going through the roof...

[Mithreal]

5. It's already too little, too late. For those it helps, god bless. nt

[bluestateguy]

7. We also don't have time for environmentalists and their nagging lawsuits

They need to stay out of the way of the infrastructure and construction projects. There is plenty of money for them in alternative energy projects, and they are kindly requested to stay out of the way of the road repair and building projects.

[harmonicon]

12. this better be a fucking joke

if it's not, the way in which you've fundamentally failed to grasp the severity of the present condition and its reasons for coming into being is shocking.

[bluestateguy]

14. Well, it isn't

You always know where I stand.

That's just what we need: a road repair or construction project that will create thousands of jobs gets delayed by months, or even years, because some environmental group bogs the whole thing down in lawsuits and bureaucratic crap.

[harmonicon]

17. oh, yeah, that's a great idea

What would though lawsuits be for, pray tell? Perhaps to save the lives of you and the workers involved? Perhaps to save the planet? "Well, we built a lot of roads, but you kids won't be using them when you grow up, because you'll be fucking dead." Hell, lets just put toxic waste in your house. How would you like that? It'll fix the economy. We'll start importing toxic waste, making the treasury loads of money, and it's all going right into your house. When if can't fit, you'll have to fucking eat it. A bowl of radioactive cancer-causing yumminess every morning. Don't complain - just do your bit to help the economy.

Let me guess: you voted in for Bush in 2,000? That stupid Al Gore would have just wasted everyone's time with his "environmental" crap. Ignoring environmental protections has done such economic wonders over the last 8 years, how could it fail to work now?!?! Put 2 + 2 together, man!

[ixion]

8. what a pantload of crappy reporting

There are other economists saying that the stimulus it too little too late and won't help at all, but hey, let's just generalize and use abstract attribution.

[jody]

9. I doubt that "Economists Agree" as the headline touts. More likely some/many/most economist agree

"something" should be done but disagree on specifics.

If economists were as brilliant as they believe they are, they would have been able to control the weather a long time ago.

[HopeHoops]

10. WHOA! Did I just see "Economists" and "Agree" in the same context? That can't be right!

[phantom power]

13. I think Congress should continue to argue about it while we lose 100K jobs per week.

[BlueIdaho]

18. I think

A state should loose a proportionate share of their recovery dollars based on how their representatives vote on the recovery package.