January 30, 2009
CBO doesn't love all of the stimulus package
The CBO report on the effects of the stimulus package is out and the verdict is not good for Republicans hankering for tax cuts. As it turns out, they don't do a whole lot. What does?
Infrastructure, direct Federal spending and aid to states to cover deficits and (you knew it was coming) INFRASTRUCTURE.
It's easier if you just start repeating over and over again, "McBlogger is always right!" And, for those of you worried needlessly about the speed with which this stimulus will hit, Krugman has you covered.
Finally, for all those worried about increase government borrowing costs, we're still the beloved of the world which means that in times of panic (now) everyone tries to buy US Treasuries increasing demand, driving up prices and driving down rates. We're effectively getting our money for free and, frankly, I wish the deficit hawks would just acknowledge this isn't business as usual so we could all move on down the road.
Posted by mcblogger at January 30, 2009 12:53 PM
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