A Weblog Dedicated to the Discussion of the Christian Faith and 21st Century Life
A Weblog Dedicated to the Discussion of the Christian Faith and 21st Century Life ___ I do not seek to understand that I may believe, but I believe in order to understand. For this also I believe, –that unless I believed, I should not understand.-- St. Anselm of Canterbury (1033-1109)
I think not. For one thing, the existing package is still working itself out. For another, policy always has to come before money in order for money to work, but that is not the way Congress likes to do things. It would be helpful for Americans to give up the myth of a "free market" and recognize that we are a private market economy regulated within the context of a democratic society that strives for the greatest amount of freedom consistent with the common good. Having said that, government must always proceed with great caution because it has proved rather incompetent at managing the economy but quite gifted at mismanaging it. And that, my dear Allan, is from a Liberal like me.
The problem with the above sentiment, as insightful as it is, is that there is no consensus on "the common good." I do not feel it is in the common good for us to abort more than a million children a year, but that is a minority opinion. Thus, attempting to direct an otherwise free market towards the "common good" is not consistent with a free market understanding at all.
As to the initial question, anyone familiar with Soviet Russia's cycle of 5 year plans should realize that bad medicine doesn't become good medicine by simply taking more of it.
Pastormack, 'Tis true, and that is the art of politics. One way or the other we have to decide on at least a provisional sense of the common good. Our way really stinks, but I confess that I am unable to think of a better way. CP
Congress should not pass a second stimulus package. The first was and is a failure. The second would see the same politics ruin the attempt. $500,000 given to heads of households in this nation would have cost less and achieved far more than the first stimulus. Bruce
If you get a chance, take a look at some of the graphs indicating economic performance. Whether stimulus package or not, the broader market indices have just about climbed back to their starting point after total free fall in the last year or so of the previous administration. The same with rate of job loss. It's not where anyone wants it, but it is a huge dramatic turnaround from where it had been headed in 2007-08. The nation has a long way to go, but the turn away from the brink of Depression worked, and worked well.
Country Parson...perhaps, but we are far from being out of the woods yet. We are already returning to the kind of ideas and practices that got us into this mess in the first place. There has been no correcting the foolishness of government spending. Wall Street is not Main Street. Most small businesses, the backbone of our country, are struggling. The failure of the first stimulus is like paying $500,000 for a $20,000car. Yea it worked.
Bruce, Keep the two separated. TARP is Bush. Stimulus is Obama. TARP was a boondoggle but it looks like we might get the money back. Stimulus, some economists say, was only half as big as it should have been, but it did turn us away from the cliff. And I agree, we are not out of the woods yet. One point more, I think we both agree that we must get federal spending back in balance, and that can only happen in the context of a robust economy. Cp
Should Congress pass a second economic stimulus package? Why or why not?
8 comments:
"The borrower in slave to the lender." Proverbs 22:7
Another stimulus package which requires the government to borrow more money would only serve to enslave America's children even more.
I think not. For one thing, the existing package is still working itself out. For another, policy always has to come before money in order for money to work, but that is not the way Congress likes to do things. It would be helpful for Americans to give up the myth of a "free market" and recognize that we are a private market economy regulated within the context of a democratic society that strives for the greatest amount of freedom consistent with the common good. Having said that, government must always proceed with great caution because it has proved rather incompetent at managing the economy but quite gifted at mismanaging it. And that, my dear Allan, is from a Liberal like me.
The problem with the above sentiment, as insightful as it is, is that there is no consensus on "the common good." I do not feel it is in the common good for us to abort more than a million children a year, but that is a minority opinion. Thus, attempting to direct an otherwise free market towards the "common good" is not consistent with a free market understanding at all.
As to the initial question, anyone familiar with Soviet Russia's cycle of 5 year plans should realize that bad medicine doesn't become good medicine by simply taking more of it.
Pastormack,
'Tis true, and that is the art of politics. One way or the other we have to decide on at least a provisional sense of the common good. Our way really stinks, but I confess that I am unable to think of a better way.
CP
Congress should not pass a second stimulus package. The first was and is a failure. The second would see the same politics ruin the attempt. $500,000 given to heads of households in this nation would have cost less and achieved far more than the first stimulus.
Bruce
If you get a chance, take a look at some of the graphs indicating economic performance. Whether stimulus package or not, the broader market indices have just about climbed back to their starting point after total free fall in the last year or so of the previous administration. The same with rate of job loss. It's not where anyone wants it, but it is a huge dramatic turnaround from where it had been headed in 2007-08. The nation has a long way to go, but the turn away from the brink of Depression worked, and worked well.
Country Parson...perhaps, but we are far from being out of the woods yet. We are already returning to the kind of ideas and practices that got us into this mess in the first place. There has been no correcting the foolishness of government spending. Wall Street is not Main Street. Most small businesses, the backbone of our country, are struggling. The failure of the first stimulus is like paying $500,000 for a $20,000car. Yea it worked.
Bruce,
Keep the two separated. TARP is Bush. Stimulus is Obama. TARP was a boondoggle but it looks like we might get the money back. Stimulus, some economists say, was only half as big as it should have been, but it did turn us away from the cliff. And I agree, we are not out of the woods yet. One point more, I think we both agree that we must get federal spending back in balance, and that can only happen in the context of a robust economy.
Cp
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