The Economist Defines 'Stimulus'

http://www.futureofcapitalism.com/2010/06/the-economist-defines-stimulus

The Economist comments on the "American Jobs and Closing Tax Loopholes Act":

a typical piece of congressional sausage-making originally projected to add $134 billion to the federal deficit. Only $79 billion of that qualifies as true stimulus: extended unemployment benefits, health subsidies for the unemployed and more Medicaid money for the states. Most of its hundred-odd other provisions are goodies for assorted constituents from Indian reservation property developers to cotton shirt manufacturers and routine extensions of expiring provisions such as the research tax credit.

A FutureOfCapitalism.com reader-watchdog-community member-content-co-creator responds: "What a crazy definition of 'stimulus'! Entitlement spending is stimulus? Unemployment benefits stimulate unemployment."

by Editor  |  Jun 11, 2010 at 9:17 am Related Topics:  Health Care, Press, Stimulus receive the latest by email: subscribe to the free futureofcapitalism.com mailing list