Saturday, January 31, 2009

More on the Stimulus Plans and Impact on GDP

This is a link to a Reuters article that summarizes some economists' opinions on how the stimulus bill will impact GDP.  Reuters
I can only say that that more bang could be had for the buck and the House bill is in need of serious revision on the spending side.  There are questions about whether the stimulus can work fast enough to avoid economic disasters that many, including me, believe are lurking in our future.  We are dealing now with something other than an average recession, a far more ominous series of events have already occurred, including but not limited to the failure and near failure of a bevy of major financial firms, the seizing up of the credit markets, the funding problems being experienced even by major corporations like General Electric, and the loss of confidence.   The non-partisan TAX POLICY Center analysis of the stimulus plans  is worth a read by the politicians.  There is still time for improvement.  TPC Tax Topics | Stimulus Report Card

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