Thursday, January 24, 2008

Ponies For Everyone

Action will be taken. NYTimes (01.24.08):
"Mr. Bush, after meeting on Wednesday with mayors from across the country, said he was optimistic about reaching swift agreement on a stimulus plan.

'I talked to them about my desire to work with the Congress to get a stimulus package passed, one that’s going to be robust enough to affect the economy, simple enough for people to understand it [ed. - as in us ignorant bastards?] and efficient enough to have an impact,' Mr. Bush said."

Bush and Congress Nearing a Deal on Stimulus

On the other hand. Financial Times (01.23.08):
"Any planned tax rebate as part of an economic stimulus package may not have a big impact on the US economy until Christmas, the director of the US’s Congressional Budget Office said on Tuesday.

Peter Orszag, whose agency provides impartial fiscal and economic advice to Congress, said that it would be a 'major challenge' to send out tax rebates before June as the IRS is tied up with annual tax returns."

US tax rebate to take six months to kick in

"'It is remarkable the world’s leading economic power cannot get [checks] out faster than that,” he told a hearing of the Senate finance committee."

"He added that experience with the 2001 tax rebate suggested the full effect of the move would not be felt for a further six months."

So why even bother? Because it sounds good: "This administration doesn't do policy, they do politics. If Bush says something in a speech, it's because they think it will sound good in a speech, period."

See? Action is being taken.



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