Thursday, January 15, 2009

quick thought

I'm way too swamped with a cappella right now (our ICCA quarterfinal is in a week and a half) to really write anything of any weight, though I have what seems like eight hundred tabs open of interesting things I want to read and discuss. Just a quick thought about the House Democrats' stimulus proposal.

I can't imagine it's going to play well that they're taking money out of future Social Security funds (by reducing withholding) for stimulus now. I know the CW is that we have to handle this now and then we'll deal with the long-term budget and entitlement issues we're facing, but I have the feeling the Blue Dogs as well as many Republicans will be all over that.

I'm not even sure how I feel about it. I'm inclined to agree with The Economist when they say that now is the time when the government will have enough political capital and leeway to start handling these problems as part of an overall economic strategy, and furthermore that showing that these issues are being taken seriously will help revive investing and general confidence.

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