Saturday, January 26, 2008

Economic plan gets mixed reviews

Here's another view about the stimulus:

Our view on fighting recession: Stimulus plan may ease pain, but it's no economic cure-all
Tax rebates can moderate misery for working-class Americans.
It's amazing how quickly President Bush and House Democrats can put aside partisan differences when they have important constituencies to coddle. Their
stimulus package, unveiled Thursday, would put cash in the hands of the non-wealthy, slash taxes on businesses and take steps to ease the housing slump.
These provisions are a big deal for Democrats, Republicans and the real estate lobby, respectively.
Yet as easy as it is to be cynical about politicians bearing gifts in an election year, a moderately sized and mostly temporary package like this can be valuable when the economy is slowing. Given the possibility of a severe downturn, erring on the side of action is a prudent move to moderate the human misery.

The word is that the Congress is going to try and speed up the May date for distributing the money. That at least makes more sense. I like any other normal American would like more money, so have at it. But I honestly don't think anything like this from Washingoton will make any difference.

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