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View Diary: Creating Jobs Is Not "Wasteful" (259 comments)

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  •  Thank you Senator Merkley (2+ / 0-)
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    exmearden, FarWestGirl

    Thank you for continuing to reach out to the public and netroots in particular and keep open the lines of communication.

    In today's write-up from The Oregonian it states:

    The bill under consideration in the Senate, he said, is the answer and it strikes the right balance.

    (emphasis mine).

    While I agree with your position that we need this bill to pass largely in the form it is (or preferably with about $200 billion in spending like rail transportation investments) I hope to clarify if The Oregonian phrase emphasized above is yours or their, and if it's accurate?

    I ask because, as I questioned over on the BlueOregon thread on your statement today, claiming this bill "is the answer" is not a wise rhetorical point to put out there. This bill is a needed first step, but is not "the answer". It is the first portion of what I hope is a multi-part solution to the crisis we need, not "the answer".

    So I hope you are not overselling this as a silver bullet that answers the problems we face. As our President correctly pointed out, this is just the first step on the path to recovery, but that path will not be short or easy and which Dr. Volcker in his testimony yesterday in the Senate Banking, Housing and Urban Affairs committee hearing yesterday about regulatory reform and modernization, when some talk of the stimulus bill crept into the questioning he indicated this should be part of a three-leg stool.

    Likewise, many economists (particularly those who have been right on this mess so far like Krugman) point out, as did Dr. Volcker, that we are looking at around a $1 trillion a year whole being plugged by a $425 billion a year stimulus bill (this bill in its likely final form being around $850 over two years).

    So please make sure you get in front of this and make it clear this is a solid first-step which is more triage to halt the free-fall and that more robust spending and investment programs must be forthcoming as well to follow this bill if we want to do enough to get out of this mess.

    As others with name-creds have already pointed out, the danger is not that we do too much but not enough and this stimulus must be only the initial (and crucial) first step.

    cheers,

    Mitch Gore

    January 20, 2009... the end of an error.

    by Lestatdelc on Thu Feb 05, 2009 at 05:00:29 PM PST

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