Politics The Clinton Plan’s Growth Deficit

Discussion in 'Blazers OT Forum' started by Denny Crane, Aug 12, 2016.

  1. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    http://www.wsj.com/articles/the-clinton-plans-growth-deficit-1470957720

    Hillary’s agenda is long on economic platitudes. How is more money for roads—$50 billion a year—going to kick-start growth?

    Hillary Clinton’s big speech on Thursday laying out her economic proposals included much of what you’d expect—calls for higher taxes on “Wall Street, corporations, and the superrich.” The centerpiece was her call for “the biggest investment in new, good-paying jobs since World War II.” Reading the speech, and detail on the campaign website, I’m not encouraged.

    America’s foremost economic problem is sclerotic growth. If the economy continues to expand at only 1% to 2% a year, instead of the historical 3% to 4%, then current economic and political problems will become crises. Almost everything depends on growth: progress for the middle class, hope for the unfortunate, solvency for social programs, environmental protection, defense.

    This is not a contentious or partisan statement.Larry Summers, Democratic economic adviser extraordinaire, wrote recently in the Washington Post that growth is “the single most important determinant of almost every aspect of economic performance,” and that trying to boost it “has been discredited in the minds of too many progressives.”

    So, how does Mrs. Clinton diagnose and suggest to cure the country’s stagnation? Her central pro-growth proposal is “infrastructure” spending, $275 billion over five years, financed in part by some sharply higher taxes.

    Sure, America’s roads and bridges could use patching. But how does this fix the growth problem? Nobody thinks that stagnant growth is centrally the fault of bad roads and bridges. No, the economic argument behind Mrs. Clinton’s proposal is simply the endless drumbeat of fiscal stimulus: Spend taxed or borrowed money on anything, and the “multiplier” will increase “demand.”

    We’ve been at this since 2008. But the caution that stimulus should be “timely, targeted, and temporary” has now been forgotten. Japan’s massive “infrastructure” spending and weak growth to show for it are forgotten. And if U.S. growth hasn’t been kick-started by the trillions of stimulus so far—the government has accumulated $8 trillion of debt since the recession began—how will another $50 billion a year help?
     
  2. bodyman5000 and 1

    bodyman5000 and 1 Lions, Tigers, Me, Bears

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    Well, we certainly need roads to drive raw materials to our ports for export and to import the finished goods made with those materials. Duh.
     
  3. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    Are they "shovel ready"?
     
  4. barfo

    barfo triggered obsessive commie pinko Staff Member Global Moderator

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    Yeah, those Trump branded goods have to get from the port to the store somehow.

    barfo
     
    bodyman5000 and 1 likes this.
  5. e_blazer

    e_blazer Rip City Fan

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    With all of the hot air The Donald generates, I would assume he'll be using blimps.
     
  6. barfo

    barfo triggered obsessive commie pinko Staff Member Global Moderator

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    Trump Blimps are an awesome opportunity for him. Would you rather get your goods delivered by Amazon drones, or Trump Blimps?

    barfo
     
  7. bodyman5000 and 1

    bodyman5000 and 1 Lions, Tigers, Me, Bears

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    Found Trump's crotch rocket. You know he'd park in the disabled van unloading area. Trump's cheap Chinese crap is all made with foreign supplies I'm sure. 20160812_142543.jpg
     

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