Wednesday, January 23, 2008

Stimulating the Economy

Joseph Stiglitz provides several possible ideas for stimulating the economy. Unfortunately, they all make far too much sense for the Bush administration to implement.

Stiglitz suggests radical ideas like expanding the size of unemployment checks, federal assistance to state and local governments, and a bigger overall budget for education. You know, things that would actually help people. Crazy.

But of course Bush won't do this. Since he has imbibed deeply of the tax-cut kool aid, his policies exist primarily of creating and extending tax cuts. This will only help the rich. Some small tax rebate will provide a very brief respite for the poor and middle-class but will ultimately do nothing.

Given Bush's absolute lack of flexibility on everything, I see little reason to think that anything positive will come out of this administration in the next year as the economy continues to tank.