Generally, history punishes the 'do nothing' approach in times of economic crisis. Saving your way through a recession will only deepen it, and with the lack of credit, businesses will suffer even more. If you borrow your way out, sure your deficit grows, but it will stabilise the economy sooner and enable the world to get back closer to trend growth and positive output. Saving makes a recession turn into a depression.
Technically a recession is a depression; the terms changed because "Depression" is associated too much with the Great Depression. Same thing for when they changed the term from "Panic" to "Depression".
Generally, history punishes the 'do nothing' approach in times of economic crisis
I have to disagree with that assessment. In the 1800's there were a couple recessions and even a depression. The government did almost nothing and the free-market recovered by itself awfully quickly.
In the 1900's, the government has tried to pour tons of money into the economy during recession and depression, but they just last longer.
I have to disagree with that assessment. In the 1800's there were a couple recessions and even a depression. The government did almost nothing and the free-market recovered by itself awfully quickly.
In the 1900's, the government has tried to pour tons of money into the economy during recession and depression, but they just last longer.
Coincidence?
The world economy has changed so much since then.
During the derpression the governemtns that did nothing tended to lengthen the recession in their country. I would prefer to use more contemporary examples when examining the current situation.
I have to disagree with that assessment. In the 1800's there were a couple recessions and even a depression. The government did almost nothing and the free-market recovered by itself awfully quickly.
Did you also notice how when the United States DID actually have a laissez-faire policy towards the economy, trusts were formed, workers went on strike, and all hell broke loose in the market?
We haven't taken that approach to the economy since FDR; Firefly is right when he says that it's outdated and that the world has changed since such times.
While the bill had its finer points, it needed to be LOOKED OVER more before it was passed. If we're going to do something like that, we need to make sure it's 100% ready to go before we send it out.
While the bill had its finer points, it needed to be LOOKED OVER more before it was passed. If we're going to do something like that, we need to make sure it's 100% ready to go before we send it out.
Off topic, I'm back! Didja miss me?
Now, that is a great explanation for the bill.
This I agree on. There was so much pressure for action that they barely got to edit it at all. However, it's still better than nothing.
Yep, I agree. It is like Congress rushed passing the bill.
To start off anyone who is not of legal voting age should not even be in this discussion esp if you are 14. I am not saying because i am 18 i have a larger knowledge of politics, but i can at least vote and proudly voted for our president for a hope of such a bill. Now that i am done with that, you can not go off bashing a plan that has not had time to fold out yet. No one will know if it really works or not. If it does not work then it will most likly be because of the Republicans in offices. They cut the original bill by more than 25%. Also the Republicans wanted to make more changes to the plan that would have made it create less jobs. Our President tried to reach out to the Republicans and they practically spat in his face. The stimulus did not get one Republican in the house although many of them believe in it. Now that i am done complaining i would like to have a more serious discussion about this. I think we should talk more about what we want this package to do for us instead of blasting it?
but this is not a debate this is a bunch of people dont know what they are talking about stating things that are completely wrong. a debate should be an educated discussion not a group of people saying o well this idea is stupid and the democrats are dumb.
