Will A New Stimulus Work?
http://www.parade.com/news/intelligence-report/archive/will-new-stimulus-work.html?archive=true
November 9, 2008
Will a New Stimulus Work?
Federal Reserve Chairman Ben Bernanke helped push for a $700 billion bailout for financial institutions. Now he is voicing support for a new economic stimulus package designed to benefit consumers. In one proposed plan, checks would be sent out to most U.S. taxpayers, similar to what happened in the spring, when Congress gave out money with the hopes that people would spend it and boost the economy.
Thank you, we have already counted your vote.
Rebate checks 38%
Roads 62%
Return To Poll
But Americans spent only about $12 billion of $78 billion in rebate checks; the rest was saved or used to pay down debt. “It will be a missed opportunity if the government mails out checks again,” says Kevin Hassett, a former economist at the Federal Reserve. He suggests that the government should instead spend funds on our nation’s aging infrastructure, an option that Congress is weighing. “Constructing a bridge or a road increases economic activity across a whole area,” says Hassett. “It’s the kind of thing that can really stimulate the economy.”
- Lyric Wallwork Winik
November 9, 2008
Will a New Stimulus Work?
Federal Reserve Chairman Ben Bernanke helped push for a $700 billion bailout for financial institutions. Now he is voicing support for a new economic stimulus package designed to benefit consumers. In one proposed plan, checks would be sent out to most U.S. taxpayers, similar to what happened in the spring, when Congress gave out money with the hopes that people would spend it and boost the economy.
Thank you, we have already counted your vote.
Rebate checks 38%
Roads 62%
Return To Poll
But Americans spent only about $12 billion of $78 billion in rebate checks; the rest was saved or used to pay down debt. “It will be a missed opportunity if the government mails out checks again,” says Kevin Hassett, a former economist at the Federal Reserve. He suggests that the government should instead spend funds on our nation’s aging infrastructure, an option that Congress is weighing. “Constructing a bridge or a road increases economic activity across a whole area,” says Hassett. “It’s the kind of thing that can really stimulate the economy.”
- Lyric Wallwork Winik