Ali’s blog

Mostly quant stuff with occasional digressions

Bush calls for $145 billion economy plan

Posted by alifinmath on January 18, 2008

Bush’s “proposal” here at Yahoo News:

WASHINGTON – President Bush, acknowledging the risk of recession, embraced about $145 billion worth of tax relief Friday to give the economy a “shot in the arm. “

Bush said such a growth package must also include tax incentives for business investment and quick tax relief for individuals. To be effective, he said an economic stimulus package would need to roughly represent 1 percent of the gross domestic product — the value of all U.S. goods and services and the best measure of the country’s economic standing.

It won’t work, George. It’s too little too late. All you’re doing is showing what cretins manage the affairs of state in the US.

Paulson said White House estimates show that a stimulus in the range of what Bush talked about could create 500,000 additional jobs this year.

That is a complete lie. Maybe they’re saying all this because — *shrug* — they feel they have to say and do something.

I forgot to add: Where are they going to find the money? It’s not as if they’ve been running up fiscal surpluses. I would have thought they’re about maxed out in what they can borrow from foreign creditors. Are they going to try and borrow some more from China and Japan? And/or are they going to try and pare government expenditures even more, thus robbing Peter to pay to Paul?

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