Bio
Will Hinton is a consultant and blogger who got his start with the blog, Dignan's 75 Year Plan. Over the past few years, Will has used his blog as a platform to explore running for Congress, spearheading volunteer efforts for Hurricane Katrina relief, and challenging common perceptions about politics.
Will has developed a reputation in the blogosphere for reasonable and gracious dialogue on contentious political and religious topics.
Will is also a guest contributor at PeachPundit, RedBlueChristian, Nation-Building, RedState, and DailyKos.
Will lives in Atlanta with his wife and two daughters.
Comments
Economic Stimulus Package
Why is it that both Republicans and Democrats feel that it is needed? This is the only time in my recent memory that they have agreed on anything.
The president's approval
The president's approval ratings can use all help they can get. Maybe the hope is that by the time the "stimulus package" would be supposed to take effect the economy will have pulled through on its own.
Will, do you have an opinion on Ben Bernanke?
Stimulation
Recently, Thompson criticized Huckabee for using the phrase “living, breathing document,” in reference to the Constitution. He said “Frankly, I assumed this came from Senator Clinton or Senator Obama.” I had the same reaction when I heard the words “stimulus package.”
I'm not an economist, but I don't see how
China, Japan, or Taiwan buying our bonds would offset the stimulus created by the "free money" checks. In short, we're not dealing with one pool - it's several pools that can overspill into one another under certain conditions. I do think the checks are a bad idea, but not for the reason cited, which strikes me as wrong, or at least vastly oversold.
Analogies
I’m not in a position to complain about analogies…but I like the multiple pool idea, I would add that they are pools that are dynamically expanding and contracting for a host of reasons. I don’t know who will buy the bonds—but presumably they are rational, uh, agents. I do wonder, with a 5% unemployment rate and a positive projected growth rate, why in the world a “stimulus package” is a good idea.
A Rate Cut
It seems to me that a run up in rates over concerns of inflation (doesn't that seem quaint now?) was the flashpoint of this current economic downturn. Today's emergency .75% cut should help if it translates into lower mortgage rates so folks in danger of losing their homes can refinance and banks won't have to take the entire loss.
In a larger scheme, can we get off a petrol-based economy so that when the price of oil rises, we don't worry about upward inflationary pressures?
Funky!
Now that was an interesting one-two punch thrown at the probability of a recession. Jab with a fiscal punch (the stimulus package) and follow up quickly with a monetary punch (the rate cut). Huh...
The short answer to your question is no, we can't any time soon. We can substitute nuclear or coal (take your pick and keep your head down if there are any environmentalists around--they dislike the truth) for some part of that base--but, neither will solve the transportation problem which is the lion's share.
when will the package take
when will the package take effect, this year or next
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