Ron Paul: Stimulus Packages Will Turn Recession Into A Depression

[Victor Galis]

I don't think it is simply about creating jobs, because you could spend $800 billion on hiring people to dig holes and fill them up and that'd be creating jobs in the next few months.

That would be fairly effective if you could handle the paperwork to create that many hole-digging and filling jobs. Winter is also a pretty terrible season for hole digging and filling

Or build a bridge that doesn't go anywhere.

I might be persuaded to support that if it were a railroad bridge On a more serious note, I do think we need to build more freight rail capacity.

Did those economists consider what usually happens in countries that print money to pay the bills?

That was exactly their point. They were suggesting printing money to create inflation so that we can push real interest rates lower.

Functionally, tossing a lot of these programs into a seperate bill is about killing them through process. Since you need 60 votes to do damn near anything in the chamber.

It is if you toss out a few billions now. If you toss half the stuff out, there would be a second bill at a later date. Of course I'd toss most of the tax cuts into that second bill too.

[Agathon]

I might be persuaded to support that if it were a railroad bridge On a more serious note, I do think we need to build more freight rail capacity.

Sorry, it was a facetious comment aimed at those who support wastage of public money based on political preference. In other words, pretty much everyone, I guess.

[Imran Siddiqui]

As for tax cuts, I think we should do the lowering of the payroll tax and dropping the bottom two tax levels, and perhaps lower the corporate income tax (though not like many companies will be paying that since they aren't making money). The rest can be delayed to the 2nd bill.

[Victor Galis]

So it looks like there's a grand total of 5 responsible Republican Senators.

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=1&vote=00038

The rest would rather destroy the world economy.

[DinoDoc]

I had hoped that the Senate Republicans would hold together and force major changes in this bill but it looks like that they knuckled under.

[The Mad Monk]

That was exactly their point. They were suggesting printing money to create inflation so that we can push real interest rates lower.

It dosen't take a lot to get that effect; the amount required here will get that effect in spades.

[Naked Gents Rut]

I had hoped that the Senate Republicans would hold together and force major changes in this bill but it looks like that they knuckled under.

Eh? The Dems are being forced to fly Ted Kennedy to DC to have enough votes to get cloture.

[notyoueither]

So it looks like there's a grand total of 5 responsible Republican Senators.

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=1&vote=00038

The rest would rather destroy the world economy.

Or rather not destroy their own.

[DinoDoc]

I had hoped that they would have followed the example of the House Republicans and at the very least forced the creation of a stimulus bill. Instead I see Spector and a smattering of others knuckling other and giving into fear mongering that even the CBO and WaPo thinks is bull****.

[Naked Gents Rut]

Nothing's decided yet.

[DinoDoc]

I hope your optimism isn't misplaced.

[Naked Gents Rut]

Vote's not until Tuesday now. That's four more days for public support to crater.

[Theben]

It might over the large tax cuts. On a side note, nytimes.com had 2 interesting articles, one from Krugman and another noting Japan's 'Lost Decade' and it's wasteful spending on infrastructure.

[DinoDoc]

The alleged pork (I say alleged not b/c there isn't any, but because I've seen a number of things called pork that don't seem like pork to me) doesn't help

Would you accept the word of Obama about pork being in the bill?

Stopping just short of a take-it-or-leave-it stand, Obama has mocked the notion that a stimulus bill shouldn't include huge spending. He's also defended earmarks as inevitable in such a package. And he's pointedly reminded Republicans about who won the November election.

http://www.google.com/hostednews/ap/article/ALeqM5h-vUuZL4_czG3BSJDyHO_2b1yqlwD966BRN80

[Imran Siddiqui]

At least the stimulus deal shaved $110 billion off the bill.