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Joanna Yu's Library tagged stimulus →  View Popular

20 Jan 10

Global Politician - Trade Deficit in 2008 Significant Cause of Economy's Recession

  • Dollars spent on imported oil and cars and consumer goods from China cannot be spent on U.S. goods and services, and every dollar that U.S. imports exceed exports negates at least one dollar of federal stimulus spending. Overall, the trade deficit overwhelms the positive effects of the Obama stimulus package on demand for U.S. goods and services, GDP and employment. Along with the banking crisis, the trade deficit is a primary cause of the U.S. recession.
  • Longer term, persistent U.S. trade deficits are a substantial drag on growth. U.S. import-competing and export industries spend three times the national average on industrial R&D, and encourage more investments in skills and education than other sectors of the economy. By shifting employment away from trade-competing industries, the trade deficit reduces U.S. investments in new methods and products, and skilled labor.
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12 Jun 09

Obama Stimulus Bears a Closer Look | Will Wilkinson | Cato Institute: Commentary

  • massive new public infrastructure spending, which is very complicated, and not at all quick. Maybe it's a good idea in the longer run, but it's just too slow to work as stimulus.
  • New roads, bridges, and electric grids requires the government to sign thousands of contracts and cut thousands of checks. Now think about the missing billions in Iraq. Big-ticket government contracting is just the kind of process where political corruption thrives, where regulatory oversight fails, especially if we're going for speed. If infrastructure is worth doing, it's worth doing smartly, deliberately, and with scrupulous oversight.
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