Economic Stimulus 101 – Part 3
The U.S. national debt surged past $10.9 trillion in March. What are the consequences?
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“You want tax cuts that affect people’s incentives, in ways that make them more productive, but that’s not the kind we got.” ⊕ Launch video
“If everybody tries to save, then the economy spins down, and everybody loses their jobs, and nobody saves.”
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“If we factor in the benefits we all get from universal [broadband] access, I think that’s a worthy investment.”
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When three of four components of aggregate demand won’t buy, government spending is the only option for stimulus.
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“There’s very little evidence that government spending can stimulate an economy out of recession.”
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“The plan has a mixture of activities and hopefully one or another will do some good.”
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“We’re looking at 7 percent stimulus versus 15+ percent depression. The stimulus isn’t big enough.”
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“Is it in the interest of the rest of society to have this sector disappear completely?”
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“If I wanted to save the auto industry, here’s what I would do: I would make Mitt Romney the auto czar.”
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“We first need to deal with the issue of insolvency, and the other issue is that banks aren’t lending.”
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“If the banks can be made [profitable], eventually private capital will come in and the government can sell its stake.”
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“If [banks] become totally nationalized, then the shareholders go to zero, but they’re almost there now.”
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Produced by Jackie Hai, Richard Caesar and Frank Godinho, AmherstWire.com.
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