Michigan Radio News

NPR News

« Interview: Peter Ubel - 1/29/09 | Main | Interview: Fred Miller - 1/30/2009 »

January 29, 2009


Feed You can follow this conversation by subscribing to the comment feed for this post.

Most economists agree on the general outline of the principles for a successful economic stimulus plan. It should be "Timely, temporary and targeted." Little of the plan that was passed in HR1 yesterday fits those goals.

When Jack Lessenberry suggests that fixing I-94 would be a general good, it's hard to argue with him. As to whether it is a good economic stimulus, that's another question, and more debatable. As to whether millions going to Sexually Transmitted Disease prevention, or the National Endwoment for the Arts, federal childcare supports, or the Smithsonian Institution; well, that's just a bad, billion-dollar joke.

Nearly a whopping third of the stimulus package goes to wealth redistribution in the form of unemplyoment benefits and antipoverty programs.

Only 5% goes to the kind of infrastructure spending that Mr. Lessenberry implied with his "I-94" comment.

We see in this gigantic package a bill that serves as more of a 40-year goodie list for Democratic Party interests than real economic stimulus. The Wall Street Journal estimated that about 12 cents of every one of the 825-billion stimulus dollars goes to somethng like real stimulus, and of that much of the stimulus is not "timely" at all:


This ecomonic stimulus bill is not the Democrats' first slap in the face of employment-producing businesses. The cost of employing anybody just went up, with the farcical "Lilly Ledbetter" pay-equity act. And the costs of doing business for the Detroit automakers may be going up with California's imposition of its own state standards on fuel economy throughout wider parts of the rest of the nation.

In the end, Jack Lessenberry wonders if we might be in an era that demands some compromises on our personal freedoms. The freedoms that Jack Lessenberry seems ready to compormise on, are mostly economic ones. Follow the money, I say, Jack.

But please don't anybody suggest to Jack that we need to compromise our notions on things like telecom data collection, or the rights of terrorists captured by our military in foreign fighting, or the rights of New York Times reporters publishing leaked information on terrorist surveillance. Those are the kinds of inviolable rights that I suspect the ACLU is never going to be willing to compromise. Compromise on personal freedoms, it appears, is not just a one-way street; liberals think it is the only street.

What is amazing and revealing about the economic meltdown is how so many experts from the business sector, academic areana and the political camps are all lost at sea..

None of these interests have a clue nor do any of these folks have any real time solutions and recommendations on how to slow down the train wreck...

Truth is the what we are observing in our leadership tier and ranks is a bunch of confused people. All of their expertise, experience, seasoned knowledge, inside information none of it amounts to anything of substance and value..

The so called masters of the universe are taking an arse kicking...

WSJ the premiere business publication was invisible during the Madoff run...All the great academic types from MIT, Uof Chicago, etc were MIA none of these people who for years pretended to know everything now look like ballons in the air...

The comments to this entry are closed.

A Production of

***UPDATE 9/2/09: Read the user agreement, effective immediately.***

The Podcast


April 2011

Sun Mon Tue Wed Thu Fri Sat
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30