Word: fiscales
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What do you think of President Obama's fiscal stimulus package in helping to turn the economy around? The bill that provided something like $800 billion for spending on government projects was supposed to make people willing to spend their own money. But that hasn't happened. The implicit belief of the Obama Administration is that you needed fiscal stimulus [i.e., more government spending], and that's why they passed this enormous stimulus bill. But from my observation of how, historically, expansions have come to an end and how recovery has happened, it's always in terms of monetary stimulus...
...monetary stimulus, do you mean the Fed needs to print more money? An increase in the money supply has historically always motivated people to spend and end a recession. And I don't know if there's any evidence that fiscal stimulus has the same effect on people's habits. All that Obama's fiscal stimulus bill has achieved is to put an enormous fiscal deficit on the Federal Government. (See pictures of the dangers of printing money...
...handful of states with fiscal years ending on June 30 have taken wrenching steps needed to pass new budgets: mainly, a raft of tax hikes and service cuts. Vermont is shutting down highway rest stops and decimating its Agency of Natural Resources. In Washington, 40,000 people are losing their state-subsidized health care, and public-college tuition could be going up as much as 14%. New Jersey is hiking taxes on high-income earners, cigarette smokers (an extra 12.5 cents a pack) and drinkers (a 25% increase on wine and liquor...
...quickly we exit this recession. Will we emerge later this year? Not until next? It is easy to find an economist for whatever answer you'd like. That's not nefarious; it's just really hard to anticipate what the economy is going to do. For the fiscal year that just ended, revenues came in below expectations in 38 states, according to the National Association of State Budget Officers and the National Governors Association. And if projections are too rosy again in the just-signed state budgets? Well, then we'll have even more shortfalls to come. "What...
...conservatives need a leader, someone who can fortify common ground—fiscal prudence—and navigate disputed territory—foreign policy and social issues. “There’s no counterweight to these socialists,” said David Aron, a 25-year-old from Hamden, Conn. But who will that counterweight be? “I’m excited about Palin, Romney…” Melissa Welsh, an onlooker, told me, her voice trailing off as she hit the bottom of a short list. Conservatives shouldn’t write...