Understanding the Dreaded Stimulus

The stimmy only managed to stop the bleeding, not cure the patient.
.
Of course, since Dr. Obama hasn’t miraculously cured the patient, too (after all, according to some, he is the “Chosen One”!) and just make it all go away, it’s his fault!
.
Either way, since the patient’s still very ill, we will see come November and after just how lucid the patient is…

Hint:
.
Think of “Physician to the King, circa 1500″

I refuse to understand! Understanding goes against my political beliefs.

even though the way some politicians tell it you’d be forgiven for thinking the whole package was taken outside and burned, or maybe given to whatever’s left of ACORN.
-
Particularly if you depend on the MSM to inform you, because they are terrible at reporting the news.

“and just make it all go away”
.
I thought that was Mom’s job.

More “Stimulus Spending” or is it nothing but a bribe for votes?
.
We report, you decide.
.

“ARE DEMOCRATS BUYING SENIOR VOTES FOR $250?”

.
http://www.theblaze.com/stories/are-democrats-buying-senior-votes-with-250-check/

I guess in that case Bush and GOP was buying votes when they sent me the 800 dollar check (pretending it was a ‘tax cut’).
.
So what is it?

“When Congress passed the tax relief act in 2001, the US Treasury had a surplus, which economists predicted would grow to $5.6 trillion 10 years down the road. Instead, the United States has an estimated deficit this year of $1.34 trillion. If the federal government extends all those tax cuts this fall and takes no other actions, America could be looking at $9 trillion or $10 trillion in accumulated red ink over the next decade.”
http://www.csmonitor.com/USA/Politics/2010/0913/Bush-tax-cuts-101-What-changes-could-be-in-store-for-taxpayers
.
Is the GOP bribing the wealthy for votes to the tune of 8-10 trillion?
.
We report you decide.

“Scare Quotes Around Something I Don’t Like” or is it silly junk that I just made up?
.
I am unable to stand behind my statements.
.
A link to someone else’s words.

“The Blaze is a news, information and opinion site brought to you by Glenn Beck and a dedicated team of writers, journalists & video producers.”

Then there’s this question of why Obama is now complaining that all those shovel-ready projects weren’t actually so ready for the shovels.

Bernstein is spot on with this statement:

There’s often going to be some wiggle between approval and shovels in the ground. The point is there are now tens of thousands of projects creating good jobs and we should build on that momentum.

It’s not a ‘new’ complaint; it’s an observation that’s new to the public and overhyped by the GOP and its supporters.

Even then, it’s not a new or necessarily surprising observation:

Indeed, some are reacting as if it is a scandal that Obama apparently had this insight a year ago and disclosed it off-the-record to Times columnist David Brooks.

If this is a scandal, then it may be the most idiotic one I have seen in a long time. Of course there were few if any shovel-ready projects. Economists have known this for decades and it is an important reason why public works are a poor means of stimulating short-run growth. By the time the projects come online most recessions are long over. [...]

…it is surprising that the lack of shovel-ready projects or the slow pace of public works spending is a revelation to anyone. Obama’s statement is simply an admission of the obvious. I have no doubt that Larry Summers, Christie Romer and Peter Orszag all told him that public works were not likely to provide much short-term stimulus. Their main value is that public goods stimulate long-term growth and the best time to produce them is when the private sector has a lot of idle resources and they can be financed at low interest rates. These are still very good reasons to undertake public works now before the economy recovers, interest rates rise and the private sector competes for the resources necessary for large public works projects.

As nice as it is to finally see some voices in the media pointing out that a) yes the stimulus did work and many more people are in jobs now than would have been had it not been passed b) all indicators show that those wacky out of touch liberal elitists were RIGHT and that the situation would be much better right now if the stimulus had been bigger, it would be nice if they could take the logical next step and begin pointing out that GOP economic policy would be utterly disastrous for the country. If neutrality is the goal fine – one can still be neutral while objectively parsing the merits of policy. But if we’re simply going to declare ‘balance’ – giving equal time and merit to each side’s proposals, even if one side’s proposals are certifiably insane – then the whole point of a free media and its role in a democratic society is being spectacularly missed.

“the fact that precious few Americans understand that the stimulus contained plenty of tax cuts (about 40 percent overall, including $116 billion–or about 15 percent–in income tax reductions)”
.
This sentence should read precious few politicians understand that the $7-14$ per week form the “tax cut” was eaten up by an onslaught of new taxes for mandates, entitlements and government growth at the state and local levels as they tried to fill budget gaps as the result of their spending.

It also shows that trying to affect behavior selectively through the tax code through nominal cuts and credits is always a failure. The federal tax code does not operate in a vacuum as states, localities and the taxpayer may have other ideas.
.
.
” Ezra Klein investigates further in a Q&A with White House economic advisor Jared Bernstein which helps explain what Obama meant,”
.
I think in shovel ready parlance this is known as backfilling. I have shovels older and with more work experience than Erza Klein and Jared Bernstein has ZERO training as an economist which about is equivalent to EK’s Q&A.

Even the GOP is beginning to admit, if only through their letters requesting stim money that the stimulus worked. Even Michele Bauchman wrote a letter requesting $$$ for a project because it will create jobs. McConnell wrote several letters. As reported last evening on Keith Oberman.

Hey! I took both I’m going to vote 3 times for the GOP and once for the Dems.
.
Oops, on the other hand, I forgot my work pays tax cut!
.
Make that 5 votes for the dems and 3 for the GOP…

I think we all know, though, that a larger stimulus package would have done far more and, although nothing like what the Republicans are saying, it could have been much better by now.

“This sentence should read precious few politicians understand that the $7-14$ per week form the “tax cut” was eaten up by an onslaught of new taxes for mandates, entitlements and government growth at the state and local levels as they tried to fill budget gaps as the result of their spending.”
.
Maybe in the strange alternate universe you live in a tax cut equals a tax raise, but, mathematically and factually you make no sense whatsoever.
.
If your taxes go down on a per capita basis, they have gone down. End of story.
.
State and local governments have been laying people off here in the US on the planet earth, so, you ought to be dancing in the streets with joy, not making up stories that local or state government grew.
.
“It also shows that trying to affect behavior selectively through the tax code through nominal cuts and credits is always a failure.”
.
Well, this tax cut is on a per capita basis, so, in order to get the tax cut you have to exist. Existing is such an easy task I believe even you, freak, can do it successfully.
.
Secondly, think of the FDR incentives for people to buy houses. Over 40 years home ownership went up 300%.
.
Sorry, Freak foiled by facts again.

“Even the GOP is beginning to admit, if only through their letters requesting stim money that the stimulus worked.”
.
But they would rather cut their tongue out rather than say this publicly. Right wing hypocrisy knows no limits.

Maybe in the strange alternate universe you live in a tax cut equals a tax raise, but, mathematically and factually you make no sense whatsoever.

.

This is the very last time I answer your stupidity. Your arrogant jackass. Your inability to understand economics from which you dropped out is only exceeded by your inability to read.
.
At the federal level they received a $7-14/wk in federal income tax relief. The states raised their local income taxes, real estate taxes, sales taxes among others. Tax relief gone!

You are nothing but a burden to society!

“Right wing hypocrisy knows no limits.”
.
As does your stupidity

“The states raised their local income taxes, real estate taxes, sales taxes among others. Tax relief gone!”
.
Neither NYC nor NYS raised taxes. Among many others, I did not get taxed back that money.
.
Maybe if the Republicans running your town and state are too much into “tax and spend” you should support Democrats instead.

“As does your stupidity”
.
Oh, yeah, Yo Mama is stupid! Yo Mama is so stupid that…
.
Obviously when you dropped out of the third grade you never learned the most basic things about intelligent, honest debate.

“You are nothing but a burden to society!”
.
If a few things I am working on fall into place, I will be paying more in tax this year than you have earned in total for several years or, knowing your obvious marketability in the workplace due to you intellect, possibly more than you earned in you entire angry, and bitter life.

8.2 – free,
”
Maybe in the strange alternate universe you live in a tax cut equals a tax raise, but, mathematically and factually you make no sense whatsoever.
This is the very last time I answer your stupidity. Your arrogant jackass. Your inability to understand economics from which you dropped out is only exceeded by your inability to read.
At the federal level they received a $7-14/wk in federal income tax relief. The states raised their local income taxes, real estate taxes, sales taxes among others. Tax relief gone!
You are nothing but a burden to society!”

Fine response. In a high school debate, you would score 0 points.