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...argues that the mondo prizes will draw new fans to fishing and thus are a long-term investment in the health of the sport. The strategy might just work. Why wouldn't fans spend hours watching a guy fish if they knew they could catch a cool million...
Russia needs foreign companies to plug a huge hole in Putin's economic policies. During his first term, Putin introduced modern tax and corporation laws. But he failed to spur the development of a business infrastructure that would enable Russia to shake its overreliance on energy and metals. Now, as the crisis starts to bite, the Kremlin is reacting by increasing its control over broad swaths of the economy. Through the state-controlled banks, it is bailing out selected business executives who are having trouble paying their debts--including Oleg Deripaska, a metals tycoon who until recently was Russia...
...research and sex education are real jobs. Granted, some spending proposals would work faster and better than others. But it's telling that House minority leader John Boehner ridicules programs to weatherize low-income homes--which would create jobs in a hurry, save poor people money in the long term and reduce the energy waste that increases carbon emissions and empowers foreign thugs. What's the argument in favor of heating and air-conditioning the outdoors...
...Nothing in the historical record suggests that when Congress has more time to deliberate--and more time to confer with special-interest lobbyists and local-interest political advisers--it enacts fair tax policies, sustainable energy policies, wise infrastructure policies, responsible fiscal policies or any other policies tainted by long-term thinking or national-interest considerations. If Obama wants to push 21st century change through Capitol Hill, he needs to use this emergency...
There are three questions the conferees should ask about every provision in the package: Will it stimulate the economy quickly? Will it create long-term fiscal obligations? Also, is it something we ought to do anyway? We need to zap the economy with a big jolt of federal dollars, and it's important that those dollars be spent in timely and temporary ways. But it's just as important that they be spent in ways that promote national priorities rather than undermine them. Fast is good, but this downturn is likely to last a while, no matter what the feds...