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...Intervale - like other energy-efficient housing developments - will also bring green into residents' checkbooks. Each of the units has Energy Star-rated refrigerators and appliances, triple-paned windows to cut heat loss and smart thermostats. Those features help make Intervale the largest affordable Energy Star-certified building in the country. And energy efficiency can be a surprisingly effective economic stimulus in the middle of a downturn. According to the Department of Housing and Urban Development, low-income families spend some 17% of their income on utilities - a far bigger proportion than spent by the better off. "In this economy there...
While Professor Philippe Aghion offered a more moderate view of the stimulus plan, he too voiced skepticism of the effectiveness of the tax cut in stimulating consumption...
David I. Laibson, a professor in the department who specializes in behavioral economics, said tax cuts for low-income households will likely be spent in the first year, rather than in the first months after the cut...
...placement may also have contributed to the crowds, as Saturday nights tend to be busy for restaurants. While business on the lover’s holiday seems not to have slumped, the local restaurant industry hasn’t dodged the effects of a declining economy, as diners have cut back on discretionary spending. One such casualty was café Z Square on JFK Street, which closed its doors in January after management complaints and flagging profits. At Small Plates, which opened in late 2007, co-owner Jerome R. Picca said that all the tables had been booked a week...
Like Brown, Newsom says California is in bad shape. But he adds that he will offer a more hopeful message than one anchored by austerity. "There are two ways to respond to our current crisis," Newsom said. "One, we can cut our way out. But then we enter a downward spiral of disinvestment. The other is, we can grow our way out of our problems. That's where I am. This state has such amazing capacity for change, for economic development. We need a strategy to grow." (Watch a video about gay marriage in California...