Friday, August 6, 2010

Stiglitz Says U.S. Faces `Anemic Recovery,' Needs More Stimulus

I've been saying this for over a year... the stimulus should have been spent on INFRASTRUCTURE. Most job losses were in the construction industry - fix our decaying infrastructure and you solve the bulk of the unemployment issue. The money never should have been spent on bank bailouts and neverending handouts to the unemployed and overlevered.

I do not agree that we need another "better designed" stimulus package... we had one shot (or five if you count all of the iterations of TARP, ARRA, etc.) to get it right and both administrations screwed the pooch. More stimulus will just lead to greater problems down the road at this point - inflation and the need to learn how to speak Chinese.

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2 comments:

  1. UnknownDecember 18, 2010 at 10:29 PM

    From Kevin D.: ood point on infrastructure....big problem is much needed bridge repairs or levee strengthening (Natomas, anyone?) doesn't have a big ribbon cutting ceremony and the politician's name in the paper. Watch season 3 of The Wire for what feels like a pretty realistic portrayal of how insider politics works...

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  2. UnknownDecember 18, 2010 at 10:29 PM

    Nail on the head, Kevin... which is why we need to stop electing career politicians and put people in office who aren't afraid to do the right thing for the country regardless of whether it gets them re-elected.

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