Sunday, May 23, 2010

Jobs and tax bill to cost $134 billion

http://money.cnn.com/2010/05/22/news/economy/tax_extenders_job_bill_cost/index.htm

Interesting article, is it worth to increase our deficit even if this means temporary relief and economic help?
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5 comments:

  1. Noah OesterleMay 23, 2010 at 8:37 PM

    I think there is coming a point where these numbers are just being thrown out there. What does another $134 billion really mean? We have already buried ourselves into the trillions, so another $134b doesn't mean as much to me as it should simply based on recent history. At what point do we just let things take the normal course and not throw money at it?

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  2. Ashlee SteudleMay 24, 2010 at 1:50 PM

    As the Stiglitz book has mentioned, the recent stimulus package was not large enough to do what it was set out to. Therefore, this amount of money may be necessary to met the aims of the original package. It is necessary that the amount of money spent in situations should be measured against GDP (as the Stiglitz book discussed). This GDP based view allows one to see what the amounts that are requested really mean. A 3 or 5 percent increase in the budget is really not that much in the long run.

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  3. k06rl01May 24, 2010 at 3:10 PM

    I agree with Noah, so much money has been thrown around during the stimulus that even a huge amount such as 134B does not seem like that big of a deal. I do think that the tax breaks for small business is a good segment of this bill, with troubled lending market slowly recovering it will be good to see more small businesses receiving some funding and re-entering the market.

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  4. JMalyMay 24, 2010 at 4:20 PM

    I'm with everyone else in having no problem with another $134 billion. The small business lending incentives are key in a time where loans are hard to some by for everyone, especially small businesses. I'm interested to see what changes are made once it hits the House floor.

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  5. Ben MinkoffMay 25, 2010 at 8:30 AM

    As everyone else said, $134 billion dollars is nothing when comparing to all the money that is being thrown around and that has been thrown around with the stimulus.

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