Posted on 04/25/2024 8:33:15 AM PDT by lowbridge
The President’s economic agenda, the “Build Back Better” package being debated in Congress, would provide vital public investments in the nation’s physical and human infrastructure, as well as in our tattered safety net. These investments are long overdue—they were needed before the COVID-19 pandemic, and their necessity has been highlighted by the virus and the economic shock that came with it.
Some, however, have invoked fears of inflation as a reason to not undertake these investments. This view is short-sighted. These are importantly supply side measures, increasing the ability of more Americans to participate productively in the economy, helping to improve our low employment-working age population ratio. Significantly reducing the fraction of children growing up in poverty and giving these children access to pre-K and college education will reap large dividends in years to come. We need safe school buildings and bridges, and affordable child and elder care, whether inflation is 2% or 5%. With the investments being financed by tax increases, the inflationary impacts will be at most negligible—over the medium term outweighed by the supply side benefits; and their progressivity will help address one of the country’s critical problems, the growing economic divide.
The Build Back Better package will provide much needed support to a still-recovering economy, but it will accomplish much more than that. By meeting long-standing social needs, boosting long-term economic performance, and taking serious steps toward addressing the climate crisis we can already see unfolding, it would transform the U.S. economy to be more efficient, equitable, sustainable, and prosperous for the long run, without presenting an inflationary threat.
(Excerpt) Read more at epi.org ...
Goes to show how friggen stupid most economists are. Would you give your investment portfolio to Krugman?
And fifty-one members of the security community signed . . .
Tear down their stuff first and rebuild it last
Exactly. Should have said 51 traitors signed...
America is so screwed...
It was mind-blowing to me how incredibly bad at math they all were.
I wouldn't trust them with my piggy bank.
“Build Back With No Border”
The day Arafat got the Nobel “peace” prize was the day I realized that the prize had become a joke.
and the people they’ll contract to rebuild will have NO CLUE about building
Build Back Better means destroying first.
And that’s precisely what Joe is doing.
Obama should have had them all on the Whitehouse lawn wearing those white lab coats again. I mean Biden.
Every economist iv3 ever known or heard of was/is a socialist/communist, so no surprise.
Economics might be the only field where you can be wrong most of the time with no consequences. And the one time you’re kinda right you get an award.
well that aged as about well as we expected...
Every economist that I have ever known or heard of was/is a socialist/communist, so no surprise.
The Build Back Better package will provide much needed support to a still-recovering economy, but it will accomplish much more than that. By meeting long-standing social needs, boosting long-term economic performance, and taking serious steps toward addressing the climate crisis we can already see unfolding, it would transform the U.S. economy to be more efficient, equitable, sustainable, and prosperous for the long run, without presenting an inflationary threat.
These would probably include the Einstein’s who had also said Trump’s election would permanently crash the economy.
Ivory tower morons! Phelps, Sharpe, and Sims surprised me a little. I thought they had some common sense.
Most economists have never worked through Don Patinkin’s “Money, Interest, and Prices” or read Hayek or Bohm-Bawerk. They are edufactured Ph.D.s without portfolio.
“They don’t know enough to know what they don’t know!”
“ i thought they had some common sense.”
Doubtful. But I bet they have a lot more walking-around money than before they signed it.
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