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View Diary: Obama nails it on why we need to invest in America's infrastructure—and why it's not happening (182 comments)

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  •  Those tax (12+ / 0-)

    cuts went to the bottom 80% of americans who were desperately struggling to make ends meet in the depth of the worst recession since the 30's.

    They were actually stimulative, because we needed the money and we spent it.

    The revisionist history around the Recovery Act is amazing.  it is like we are on Redstate at times.

    There was absolutely no way that the President was going to get more than he got from the blue-dog dems and the Snowe ,Collins and Specter GOPers he needed to get this passed.

    •  Yes, but every study done (11+ / 0-)

      has shown that tax cuts are among the least stimulative, well, stimuli. Not much bang for those bucks, sadly.

      "Lone catch of the moon, the roots of the sigh of an idea there will be the outcome may be why?"--from a spam diary entitled "The Vast World."

      by bryduck on Thu Jul 03, 2014 at 12:07:11 PM PDT

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      •  Part of the problem was also the fixation on (1+ / 0-)
        Recommended by:
        sethtriggs

        shovel-ready projects. If you recall, we continually heard in the media debates about how much was shovel-ready.

        The reality is the some of the best projects probably were not shovel-ready and would have taken a number of years to get off the ground. There was way too much emphasis on the need to get short-term benefits for the economy - which is easy to do with tax breaks designed to increase spending - and not enough on the need to invest in the economy even if it meant the stimulus benefits would be further out.

        •  And the reason for that fixation ... was ... (5+ / 0-)
          Recommended by:
          unfangus, R30A, hbk, Calamity Jean, sethtriggs

          Republican/conservative yammering that infrastructure projects are wasteful/socialism/marxism/communism/LALALALALA.

          Gawd, how can people not remember that deluge of RW shitballing. It was incessant.

          "What could BPossibly go wrong??" -RLMiller "God is just pretend." - eru

          by nosleep4u on Thu Jul 03, 2014 at 01:09:14 PM PDT

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          •  There was a focus on the need for everything (0+ / 0-)

            done to be short-term to get the economy moving quickly. That reflected a lack of appreciation for just how bad the economic drop really was. In hindsight, it is clear that longer-term infrastructure spending would still have benefited the economy during the downturn.
            I actually didn't hear much of what you describe at the time.

    •  4.2 million jobs created by the ARRA (1+ / 0-)
      Recommended by:
      sethtriggs

      175 billion spent use the 2.5 multiplier.

      .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Thu Jul 03, 2014 at 12:20:12 PM PDT

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    •  Using the 2.5 multiplier (0+ / 0-)

      those 288 billion of tax cuts, if stimulative, would have created
      upwards to 7.2 million jobs. But the CBO told us the stim created 4.2 million jobs, just as the WH claimed 4.25 million jobs created thru 2011.

      You are entitled to your own opinion.

      .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Thu Jul 03, 2014 at 12:26:05 PM PDT

      [ Parent ]

      •  Ok, why (3+ / 0-)
        Recommended by:
        sethtriggs, askew, Jeff Simpson

        would unemployment compensation be stimulative but direct cash injections thru a reduction in taxes out of paychecks not be stimulative?

        The working poor spent those extra dollars just as the unemployed spent their checks.

        I am not saying that tax cuts are as stimulative as direct cash payments to the poor and middle class, but it was also a major reason that they managed to get the GOPers like Specter, Collins and Snowe on board ,as well as the bluedogs like Nelson.

        Nit pick it to death if you must, but denying that it was a good job by Nancy, Harry and the President to get it passed at all is to deny reality of the politics at the time.

        •  Infrastructure jobs are the best stim (0+ / 0-)

          Infrastructure- 2.5

          Clerical -1.8

          Tax cuts dont improve peoples productivity, neither does unemployment benefits, the multiplier can be as low as 1.1.

          An unemployed person sitting at home is not building a bridge used by a million people day.

          Frankly the numbers dont lie, 4.2 million jobs were created thru 2011.

          .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

          by Roger Fox on Thu Jul 03, 2014 at 01:00:13 PM PDT

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    •  There is revisionist history. Larry Summers... (6+ / 0-)

      ...blocked Christina Romer's idea of $1.8 trillion in stimulus from ever reaching Obama's desk. Had that been the proposal, no doubt it wouldn't have been approved, but it could have been negotiated down to $1.3T or $1.1T instead of the $800B that was approved.

      Don't tell me what you believe, show me what you do and I will tell you what you believe.

      by Meteor Blades on Thu Jul 03, 2014 at 02:23:19 PM PDT

      [ Parent ]

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