How Will Obama's Stimulus Bill Affect America?
After intense negotiations and several false starts, President Barack Obama signed the controversial $787 billion stimulus bill into law on February 17, 2009. Obama is hopeful that the bill, which he has made the centerpiece of his young presidency, will jumpstart America's collapsing economy, but critics (including nearly every Republican in the Senate) see the bill as a waste of taxpayer dollars. Is the stimulus the boost the American economy needs, or will it be the nail in the coffin of our financial future?
We Need Real Bipartisan Solutions
- From Republican National Committee
By Republican National Committee
Thank You for your Comment
We review all comments before they're posted. For more on our comment policy, please see our FAQ.
Bipartisan means: Low Taxes (R) + Adequate Demand (D)
Bipartisan (here) means: Low Taxes (R) + Adequate Demand (D)
Since both parties claim to want lowest necessary taxes, they should be able to agree on the purpose of taxes. To a degree, they do agree that taxes can often lower private spending. This may be necessary to keep price affordable. Neither party emphasizes that private savings reduce spending and may help to protect money from price inflation. Were they to agree on this, they might see merit in reducing taxes to zero when private savings were high enough to protect money without taxes. Thereafter, as necessary, they might agree that the lowest taxes are desirable--so savings ought to be encouraged. They might also agree that protecting savings from inflation, by COLA indexing, would help.
Both parties also want adequate demand to justify private business and the jobs it can create. Where private spending falls short of high enough demand for profit and full employment, both parties should agree on enough government spending to protect profits and wages from recession, depression and national and global economic and political instability.
- john gelles
March 3, 2009 9:17PM
Reply to this Recommend
(0)
Side: Yes
Thank You for your Comment
We review all comments before they're posted. For more on our comment policy, please see our FAQ.