Bernanke Is Said to Support Stimulus Measures

[rodeodance]

Source: nytimes


trouble over the horizon that is for sure


January 17, 2008
Bernanke Is Said to Support Stimulus Measures
By EDMUND L. ANDREWS and DAVID M. HERSZENHORN

WASHINGTON — Ben S. Bernanke, chairman of the Federal Reserve, has told lawmakers that he can support tax cuts or spending measures to stimulate the economy, even if they increase the budget deficit, provided the measures are quick and temporary.

Mr. Bernanke is to testify before the House Budget Committee Thursday. Democratic lawmakers said he had told them that he would not comment on proposals to link a stimulus package with a permanent extension of President Bush’s tax cuts. That is expected to disappoint Republicans who favor such a link.

Faced with growing evidence that the economy is slipping into a recession, Congressional Democrats and President Bush are trying to come up with a package that would put more money in Americans’ hands within the next few months.

The Fed’s willingness to give a nod to fiscal stimulus is important. Many lawmakers will not support action without the chairman’s blessing, and the double dose of stimulus that the Fed and Congress are considering must be carefully calibrated.

Read more: http://www.nytimes.com/2008/01/17/business/17fiscal.html?_r=1&th=&oref=slogin&emc=th&pagewanted=print

[Demeter]

1. Bernanke Is Shitting Bricks

This is just a preview of what life will be like for the next occupant of the Oval Office. Being a fall guy isn't what people grow up wanting to be.

[ClintonTyree]

2. Maybe another $300 check for everyone......

so they can go to Wal*Mart and buy some more cheap Chinese shit. And then have to pay it back on next year's income tax. I'm sure Bush's brain is full of wonderful "economic stimulus" ideas. Look at how effective he's been so far!

Whatever they do will be like putting a band-aid on a severed femoral artery. The George W. Bush "economic miracle" continues to impress. :sarcasm: Of course the estimated $1 trillion dollar Bush Iraqi war just might have something to do with this economic hell we're living in, huh? :shrug:

[jayfish]

7. You Know I Was Almost For This Until I Remembered The "Pay It Back" Part.

The notion behind the rebates, for instance, is to get money into the hands of consumers quickly so that they boost spending, helping energize the national economy.

What a load of horse-shit!

Jay

[MadHound]

3. Let's see here, massive tax cuts helped get us into this mess,

What the hell makes Bernanke think that more tax cuts will get us out of this mess? Oh, yeah, he's part of the neo-cons, a group who think that tax cuts are the answer to everything including impotence and male pattern baldness.

[soothsayer]

4. Warm up the helicopters and fire up the printing presses

Take to the streets, people, here come the pennies from heaven!

[jonnyra]

5. These people have got to be

the most ignorant our nation has ever had making decisions. More tax cuts?? Im no economist but that sounds like sheer lunacy to me...how the fuck does that solve anything?? If the middle class gets anything at all from tax cuts its a measly few bucks. That doesnt begin to address sky rocketing energy costs at the hands of immoral energy companies, sky rocketing medical costs by immoral health care providers, credit card companies robbing people with 24% interest, the housing crisis...

Every day we get pounded with more and more evidence that this nation is an immoral and sick society where its profit over people and idiots...truely stupid people...are making ignorant decisions that take us all down a road to destruction. And the republican party is first on the list of blame. And yet watch in amazement as yet another republican miraculously wins the presidency this November.

[Javaman]

8. Here is a great insight on where supply side economics or other wise known as...

trickle down theory comes from...

http://gregmankiw.blogspot.com/2006/12/supply-side-economics.html

you will understand after reading this, that laffer was basically talking out of his ass and that the neo-cons were actively looking for something to basically get rid of the lasting effects of the new deal.

[BlueManDude]

6. Why not let the magic hand of the marketplace fix everything?