The View From 1776

Martin Feldstein Weighs In

Harvard economist Martin Feldstein thinks that the House’s stimulus program will be mostly ineffective.

Posted by .(JavaScript must be enabled to view this email address) on 01/29 at 05:21 PM
  1. The article covers many of the problems our nation faces even in good times, as well as, bad. We have so many things we can't pay for in good times, how are we going to improve the situation by spending even more during a bad time.

    We need reforms but, that will cause huge amounts of pain. The politicians and nation and people aren't prepared for what it takes to get our nation back on a sound basis.
    Posted by JanPBurr  on  01/29  at  07:18 PM
  2. Feldstein is generally a prudent economist, but goes off the rails in advocating additional military spending as a boon to the economy. Military spending is, in most cases, equivalent to throwing money, in great truckloads, down a rat hole.

    Incredibly, the current US military budget exceeds that of all the other countries of world combined! We should be able to provide an extremely high level of national security even if the budget were limited to, say, twice or three times that of our nearest competitor.

    The under-respected Dwight Eisenhower was exactly correct in warning of the danger of the military-industrial complex, which, unfortunately, has largely come to pass, and has contributed mightily to our bankruptcy and ill thought-out military adventures that have sadly reduced our national reputation and security.
    Posted by .(JavaScript must be enabled to view this email address)  on  02/01  at  12:58 AM
  3. I agree with you, and it makes no sense to spend more on the military at this time.

    Also, in this "infrastructure" bill, little is going for infrastructure and much is just the creation of more government jobs. We need private sector jobs to pay for the government jobs we already have not more government jobs.

    California is basically bankrupt and is issuing IOU's to people it owes money to and yet, the legislature wants to increase spending.

    We have unemployment over 10% in a couple of states and it is 9.2% in California. They are running out of unemployment insurance money and will have to get federal bailouts but, the Fed doesn't have any money either. It has to either borrow or "print" and apparently the FED has said it will do that buy purchasing 10 yr. bonds and taking them off the market and not trying to resell them as it currently does.

    They are digging the hole deeper and deeper faster and faster.

    Spending more on the military makes no sense. Maybe they need to reallocate resources to get what they need but, cut spending, don't increase it.
    Posted by JanPBurr  on  02/01  at  01:33 AM
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