February 9, 2009
Specter for Spendulus
I am supporting the economic stimulus package for one simple reason: The country cannot afford not to take action.The unemployment figures announced Friday, the latest earnings reports and the continuing crisis in banking make it clear that failure to act will leave the United States facing a far deeper crisis in three or six months. By then the cost of action will be much greater -- or it may be too late.
Wave after wave of bad economic news has created its own psychology of fear and lowered expectations. As in the old Movietone News, the eyes and ears of the world are upon the United States. Failure to act would be devastating not just for Wall Street and Main Street but for much of the rest of the world, which is looking to our country for leadership in this crisis.
In related news, the Washington Post graphs how immediate the stimulus really is.
Answer: 10% gets spent this year... in the year we cannot afford to delay (tm).
(Click to enbiggen)
"The" economic stimulus package, Senator Specter? Do you also purchase the first car you test drive, or the first house you look at? How about love - did you marry the first woman you dated?
Posted by: johngalt at February 10, 2009 12:48 PMGWB's misguided decision to back Specter over Toomey in the primaries continues to haunt the party and the nation.
Posted by: Boulder Refugee at February 10, 2009 6:01 PM | What do you think? [2]