Meet The Press For 2/8/09

Meet The Press For 2/8/09


Once again, it’s all about the economy…

I thought it was a decent back and forth, but I think it’s pretty clear that free marketers will NEVER back down from the idea that tax cuts are the greatest good. And during a time when pretty much any tax cut will either be saved or used to pay down personal debt, I just don’t think these folks are being realistic about their ideology. Fair enough, you believe in supply side economics, but you can’t credibly claim that your ideas should be seriously considered if all you’re going to do is rehash the same ideas that many think led to this current crisis.

I don’t know folks, maybe I’m completely missing the boat on this entire stimulus bill, but I continue to be unconvinced by these arguments. They feel extremely hollow after the last eight years and I’m willing to try something new in order to figure out if different ideas work.

  • Jimmy the Dhimmi

    And during a time when pretty much any tax cut will either be saved or used to pay down personal debt, I just don’t think these folks are being realistic about their ideology

    Maybe re-capitalizing banks through increasing savings, and paying off debt which caused this crisis in the first place, might be a good thing? Or how about avoiding an inflationary bubble by not printing money and giving it away to mismanaged banks? It seems you suggesting that Americans need to increase their debt to get the country out of debt.

  • BenG

    No, Jimmi, not at all. The Republicans missed the boat on those things when they had the chance. Now its’s a mad rush to right the ship before she goes down. The bank/lending issue is entirely different from the broader economic stimulus plan that Justin was referring to when he talked about tax cuts vs. Gov spending initiatives to boost the troubled economy. Although one does impact the other, you’re arguing apples and oranges here.

    I share Justin’s frustration and I’ll try to sum up why: First, for most of us, we’ve never had to deal with such a crisis as Fiscal Armageddon in our lifetimes, so we’re making it up as we go. If you’re old enough have experienced the Depression than you probably spent money responsibly enough not to have contributed to this current problem, which gets me to your point. It wasn’t bad people who got us into this mess it was bad business that led us down the disastrous road of over-extending credit and passing the risk on to others. The banks are now forced to change their business model, and they’re doing their best to pass on the pain like they did with the risk. We saw how inept the Bush Adminst. was at preventing this with the first half of the TARP. I think the Obama folks are going to do a much better job if the Republicans would just give them a chance.

    This gets me to my second great frustration, the Republicans: The GOP, which now stands for Great Obstructionist Party, needs to admit that they screwed the pooch, knocking us all up these past few years by enabling all this bad, unregulated, free mrkt business. Free to drive our entire economy down the crapper. And what’s their better plan to save us from total fiscal collapse? Lower tax rates. Wow!!! Thats remarkably, unbelievably unresponsive to the new world we live in. Obama tried to open up the dialog to find a bipartisan solution. I think what he found out is there’s nothing substantive there to help. It’s sad, but we’ll figure it out and maybe the next election we’ll solve the problem once and for all by making the GOP as insignificant as they seem to truly be. Two more Senators will do the trick! And, yes, that will be the worst thing that can happen – almost as bad as the past 8 years.