Korean Job Discussion Forums

[Rusty Shackleford]

Do you think the stimulus will save the US economy? Or is it a pork laden spend up that will leave future generations carrying the burden?

[Jeff's Cigarettes]

The worst thing that happened was "W" wasn't allowed to serve as Pres for life, IMO. Of course it's pork laden and only increasing the dept while not offering any long term strategy. The Empire was a better idea and the timing was perfect. Here�s what the Congressional Budget Office had to say about "Bamma's Crib" Communist Stimulating Package.


"President Obama�s economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.

CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.

CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net. [The House bill] would have similar long-run effects, CBO said in a letter to Sen. Judd Gregg, New Hampshire Republican, who was tapped by Mr. Obama on Tuesday to be Commerce Secretary."

[grendellives]

Jeff's Cigarettes is a republican? Wow! I din't see that one coming

[Dude Ranch]

Obama's stimulus is like a guy gettin laid off of work and saying he is going to stimulate his own personal economy by re modelling his kitchen

[Demonicat]

No, its more like a rich guy who after seeing lots of people with no work suffering says, "Y'know, I'm sure I have some yard work that needs doing". The goal is to make jobs. We may not need a ton of new roads, or new broadband, or this or that- but by making them we make jobs. By making jobs, we encourage spending, spending which constitutes 2/3's of the American economy. Letting it be without doing anything will just not work right now, hell we tried that and watched as the banks collapsed. Pure tax cuts do not work as they do relatively little for the 623,000 people out of work.

A note about the 623,000 number which was released today. That is the number of new people filing for unemployment benefits. By nature that is severely skewed low, as it does not factor in most hourly employees, new employees, or a substantial number of construction/blue collar workers.

A challenge to all who would hate on the stimulus...no, two challenges- pick your favorite:
1) Give an alternate solution
2) Move to the US, get a new job, and live for at least a year without going into debt

[Forward Observer]

I haven't met any republicans or conservatives that have had any visceral or emotional dislike for the Obama the way liberals did with Bush.

I think the Onion had it right when it said: "America gives world's hardest job to black man".

[Rusty Shackleford]

[Demonicat]

Friend, I have read that and while it is very well written it is not gospel. I understand and usually sympathize with the libertarian viewpoint (the glazier story outed you), and usually I find myself leaning towards it myself. At this time, however, I have to disagree with it. The window is already broken. We did not break it to create jobs, the window is broke. We can either leave it broken, or hire the people to fix it.

This was pointed out by Keynes who made it quite clear that even building meaningless pyramids would be beneficial if it created work. In addition, Bastiat himself said that the boy is in fact a benefactor, just not the best possible benefactor. Furthermore, in our modern society the issue is not that there is no money, so the cost of the window is passed on, but that the money is held withing banks and holdings. Therefore, the cost to repair the window is made liquid and allowed back into the economy.

Finally the book you suggest everyone read, in which the broken window theory is postulated, is in fact a short essay "That which is seen and that which is unseen", it was written in the 1850's not the 1940's. Have you read it?

[mises]

[Demonicat]

So you are then suggesting an increase in welfare instead of jobs? Interesting theory, but you're the first to give an alternative, so I won't attack you

[mises]

[Demonicat]

We spent 700 billion in Iraq and bush gave out a 1.3 billion dollar tax cut not long ago. Before I end for the night, I ask why is the 700 million dollar stimulus more despicable than the money already spent. Fox news fans?

[mises]

[Demonicat]

Ok, what? Rusty, myself, and a few others have been having a serious economic discussion. We disagree, but back up our words with facts. Now you're calling me a peasant? Do you realize how stupid that sounds in a debate on economic policy? I suppose its pointless to argue that EI is all well and good for top white collar workers, but is not available for the majority of Americas, and to rely on it now would require a mix of hindsight and Doc brown's delorean.
Now, your theory on preventing future debt is with merit, but the reality is that 14% or more of Americans are without jobs, houses are being foreclosed on daily, and where I'm at (for another week) in Baltimore, people are having to be forcibly evited into the freezing cold. While its easy to pontificate that they should have thought of this before, not many people had the idea to say "hmm, AIG and company are acting fishy, better be careful and pay a significant portion of my paycheck...that already barely covers my expenses... to get me some EI"
In short, times are rough and saying "do nothing" is easy but damn cold hearted.

smooth edit, btw

[mises]