More And Bigger Stimulus - The Non-Debate

Paul Krugman whines that no one is talking up the notion that the current stimulus bill was too small.  Megan McArdle steps into the breach:

Democrats aren't interested.  They aren't interested because they are already facing political pressure over the debt.  Doing another stimulus will--or so they think--make it much harder for them to do health care and climate change.  Their initial thesis that a big, bold spending program would "prime the pump" for more big, bold spending programs has fallen flat.  The stimulus is working too slowly, probably because little money has yet been dispensed, which has made further spending programs less, not more, popular.

A question for Paul Krugman and other stimulus proponents:  would you rather have a second stimulus, or health care?  I know that in an ideal universe you wouldn't have to choose, but assume that the worrywarts are right, and you do.  Which should Obama get done?

To which I would add - as noted by Ms. McArdle and fretted about by Team Obama when the initial forecast were made, it is hard to spend all this stimulus money quickly.  This is from the January economic summary by Christina Romer and Jared Bernstein:

Because it takes time to carry out new spending programs authorized by legislation, we expect the jobs created by spending on infrastructure, education, health, and energy to be concentrated in 2010 and 2011. At the other extreme are funds to protect the most vulnerable, which are generally spent promptly, and tax incentives for businesses to invest quickly.

Interesting - does Krugman seriously think Congress should authorize even more money to not-spend anytime soon?  Economically, it does not make much sense to authorize funds for which projects are not available; politically, it would be much harder for Democrats to resist Republican calls for tax cuts as part of the mix when Obama's own economic team admits that there aren't enough "shovel-ready" projects and that tax cuts can provide a quick economic boost.

So, a bigger stimulus bill, had it been debated last winter (or if it were to be debated now), would almost surely have compromised between the Republican plan for tax cuts and the Democrat plan for more spending by doing both.  Hard to see why libs would favor that; easy to see why Obama didn't steer the conversation in that direction.

Comments

[MayBee]

bad- they call the group shots of leaders "family photos".

[bad]

Yeah, Maybee, but how young are "junior" delegates?

[bad]

New Delhi, July 2 (ANI): A 16-year-old girl from Koraput, Orissa and a 17-year-old boy from Krishnagiri, Tamil Nadu, will be representing India at the Junior 8 summit in Rome this year.

The Indian junior delegates are 16, and 17. Wonder if they are all that young?

LUN

[clarice]

It's reportedly Brazilian Pres. Lula's 16 y.o. daughter.

Mybe Letterman has a joke?

[bad]

PUSHKIN, RUSSIA, 7 July 2006 – Sixty-four youth delegates from G8 member countries have gathered here to debate and agree on a set of recommendations to give world leaders, ahead of the upcoming G8 summit in St. Petersburg.

The children's gathering – known as the 'Junior 8' Youth Forum – officially opens tomorrow. It was convened by the Russian Government in partnership with UNICEF. The youth delegates represent Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States.

Russia selected its delegates through a televised competition, while children from the other countries were chosen through a school-based essay contest. Together, they will be spending 10 days producing a communiqué containing their recommendations.

UNICEF refers to the G-8 Junior Delegates
as "children."

The president better hope he was leering at staff and not one of the "children."

LUN

[hit and run]

Oh come on, that pic needs to be posted here...

http://d.yimg.com/a/p/rids/20090709/i/r3356552547.jpg?x=400&y=340&q=85&sig=_dbUibuGcHSmlg8QoaQV7A-->

[bad]

At least he wasn't cupping his crotch....

[hit and run]

David Brooks: "Just behold the dignity with which President Obama leers at the ass of a pretty young thing. It's transformative"

[Ann]

Mike Murphy Republican Classless Ass

Please remember him, write to him, and don't let him ever work for our nominee again.

Sarah Palin Assassin

h/t Riehl World

[Extraneus]

Yeah, well she's still at 24 to Romney's 25 and Huck's 22.

[Extraneus]

And his wife's probably from Connecticut.

[glenda]

Clarice--thank you for the BB info..I will probably make some kind of reservation soon..if things don't work out I can always cancel and request one of your #'s to keep up with what's shaking while I cry in my tea. hee!

[JM Hanes]

Clarice:

"Why do you suppose Ms Bruni is always in Dior?"

Because Dior has to give it away these days? Christian La Croix's cheapo dress making pretty much killed off couture, but I've been amazed at how dumpy Bruni always looks.

[JM Hanes]

Paul:

"Couldn't our friends at TypePad do the same quality job for about $17,999,000 less money?"

Why not do it ourselves for $17,000,000 less?

[Pofarmer]

After a three-week sniff, most couldn't run away from Palin fast enough.

I beleive, if you look at the polls, you'll find that McCain was behind until the Palin announcement, drew even, to slightly ahead, then totally whiffed it with the meeting on the financial crisis, or whatever it was called.

Palin's GOP is still only one part of that Republican base, and her slice will shrink after last week's hara-kiri.

So, what is Palin's GOP? In office she's been a fiscal conservative and social agnostic. What more could you want in a Republican Candidate these days?

I suppose this dork supports the Labrador?(that would be Mitt).

[Sue]

Why not do it ourselves for $17,000,000 less?

We didn't donate to Steny Hoyer's campaign silly. We aren't eligible.

[JM Hanes]

Rats!

[RichatUF]

Man, for some reason Gov. Palin really gets under Mike Murphy's skin. What a shit head.

[MayBee]

Man, for some reason Gov. Palin really gets under Mike Murphy's skin. What a shit head.

He wanted Kay Bailey H for VP, and he never gave Sarah a chance or a kind word. He was supposedly TIME'S Republican blogger during the campaign, and he said not one good thing about McCain or Palin.

[clarice]

O never think Bruni looks dumpy,jmh..She sould use a bit more color now and thenn but her clothes are well cut and appropriate for wife of events.

If truth were told I think all the fashion houses are in trouble at the moment..

[hit and run]

He was Richelieu at weekly standard, no?

[Extraneus]

Gee, he's not the same Mike Murphy of the Peggy Noonan off-mike "bullshit" conversation with Chuck Todd, is he?

[Sue]

Is gangster dude Johnny Wright, MO's hairstylist?

[RichatUF]

Extraneus-

He ran the failed 2000 McVain "Straight Talk Express" nomination campaign, and iirc, he was dismissed very early from McVain's 2008 nomination run. McCain really knows how to pick advisors and strategists doesn't he.

During the campagin he double talked about amnesty, couldn't even mention the Dem slush funds Fannie and Freddie (more money has been shoveled into them than AIG or Citi), didn't want to drill for oil. Hell, I can't even figure out how Gov. Palin was picked with the progressive coloration of McCain and his inner circle. And that tired pachyderm and his rats nest of backstabbers still won't forgive her for bringing energy to his campaign.

[Pagar]

Please remember him, write to him, and don't let him ever work for our nominee again.

To go forward, GOP needs to get rid of the Mike Murphys NOW.

[joycekane]

You'll find the best selection of hot babes,
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Post a message, a pic of yourself and check out the hot photo galleries.
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[PD]

Sue, well put. This is, I think, exactly what is so exasperating about the Obama lifestyle, both Barack and Michelle: They want to live as they darn well please, but want to control how we live.

[Ann]

I am sure you guys have seen this:
The (Free) Irbil Five: Meeting Iran’s Preconditions

It just makes me want to cry but I am too mad.

We have Elite snobs with ivy-league educations sniffing the hind ends of the Iranian regime.

Sniffing...isn't that a great word for what they do. Nose up at all times.

[PD]

off

Sorry. TypePad ate a tag, I believe.

I was responding to this from Sue:

"I don't care what anyone spends or what they spend it on, as long as they don't care what I spend and what I spend it on."

[PD]

Joe Biden may have followed me to Ohio, that's the bad news. But here's the good:

Obama's Popularity Plummets in Ohio as Residents Express Impatience

A new Quinnipiac poll shows the president's approval ratings from Ohio voters has dropped from 62 percent in May to 49 percent this month, making it the first state where President Obama's job approval has dipped below 50 percent.

[PD]

And some cluelessness from that article:

Still, some suggest Obama will need to continue selling his policies.

"There's a lot of spending happening and not much growth to show for it at this point"

In what world does "complete absence of growth and going down the toilet fast" translate as "not much growth"?

[cathyf]

Oh, now I see why I can't do cut and paste, c; I have a one-sided Twentieth Century Mouse. No central dial either, for scrolling.

The magic right-button substitute for 1-button mice or 1-button trackpads -- hold the CTRL key down while clicking. Also, click and hold often works.

[hit and run]

CTRL-C to copy (whatever text is highlighted, be it a url or a JOM comment, or whatnot)

CTRL-V to paste (be it a url to make a LUN or a quote to be used in your comment or...)

Mice are rodents.

Your keyoard is your friend, fellow laptop, lakeside dock users.

Laptop lakeside dock users of the world UNITE!

[Porchlight]

PD, I think the latest PPP poll from Virginia has him at 48%. Fred Bauer had a good roundup the other day:

Independents in the Balance

[cathyf]

CTRL-C to copy ... CTRL-V to paste...

*shudder*

Using CTRL rather than COMMAND for keyboard shortcuts is one of the ugliest things about windows. CTRL-C, CTRL-V, CTRL-G, etc. are all particular characters that have particular meanings from back when Bill Gates was in short pants. Heck, they have their correct meanings in DOS for that matter!

[Extraneus]

The guy whos invented Ctrl-Alt-Delete recentely passed away.

[drjohn]

Tax cuts are very quick.

[Trajan]

Krugman reminds me of the beady-eyed ferret a childhood
friend had as a pet. It was
a vicious little beast. It
chewed its way out of its
enclosure and disappeared.
Makes me reconsider the
concepts of reincarnation
and shape-shifting. I can't
ever hope to explain Henry
Waxman, though.