Wednesday, January 28, 2009
The Stimulus Bill Sucks
That is my informed opinion. The tax cuts in the bill are horrible. To the extent tax cuts are included, a cut in payroll taxes would do much more to save/create jobs. However, what irritates me more than anything is the paucity of infrastructure investment. We should really be focusing on Mass transit, Intercity Rail, and High Speed Rail. The bill doesn't do that. There is an absurd amount going to higher education, which, given that there is already money going to State and local governments seems superflous. I know everybody thinks what we need to do is do something big and do it now, but I actually disagree on the latter point. This will be an extended recession. We should make at least some effort to make sure that our spending is directed towards worthwhile investments.