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yglesias.thinkprogress.org/...stimulus-and-the-future.php - Cached - Annotated View

Robert Maguire's personal annotations on this page

rmaguir
Rmaguir bookmarked on 2009-11-06 youth US economy financialcrisis deficit statistics reference politics stimulus
  • those who claim fiscal restraint amidst a depression is a favor to young people don’t know what they’re talking about
  • Deficit hawks like to complain that today’s young people will end up having to pay higher taxes to service the debt we’re running up right now. But anyone who really cared about the prospects of young Americans would be pushing for much more job creation, since the burden of high unemployment falls disproportionately on young workers — and those who enter the work force in years of high unemployment suffer permanent career damage, never catching up with those who graduated in better times.
  • Even the claim that we’ll have to pay for stimulus spending now with higher taxes later is mostly wrong. Spending more on recovery will lead to a stronger economy, both now and in the future — and a stronger economy means more government revenue. Stimulus spending probably doesn’t pay for itself, but its true cost, even in a narrow fiscal sense, is only a fraction of the headline number.

This link has been bookmarked by 1 people . It was first bookmarked on 06 Nov 2009, by Robert Maguire.

  • 06 Nov 09
    rmaguir
    Robert Maguire

    youth US economy financialcrisis deficit statistics reference politics stimulus

    • those who claim fiscal restraint amidst a depression is a favor to young people don’t know what they’re talking about
    • Deficit hawks like to complain that today’s young people will end up having to pay higher taxes to service the debt we’re running up right now. But anyone who really cared about the prospects of young Americans would be pushing for much more job creation, since the burden of high unemployment falls disproportionately on young workers — and those who enter the work force in years of high unemployment suffer permanent career damage, never catching up with those who graduated in better times.
    • 1 more annotations...