The government can't make the private sector invest. They can't demand that Wal-Mart start hiring. They can offer incentives, and tax breaks, and encouragement, but that's it. The same cannot be said when it comes to public sector jobs. The government can, if it's willing to run deficits, keep those workers employed. But Senate Republicans, alongside some conservative Democrats, have decided to make the government pro-cyclical: Rather than fighting the downturn in the business cycle, the government is now accelerating it.
And don't ignore the effect this has on private businesses. They're not going to hire new workers or invest in more capacity if jobs aren't coming back, because without jobs, there's no demand. But because the federal government has decided against backing up state and local governments, the bleeding continues, and that scares businesses away from investing in recovery. We create the stimulus that helped the economy survive 2008 and 2009, and we've created the anti-stimulus that's keeping it from recovering in 2010.
thephan wrote:pacino's posting is one of the more important things revealed in weeks.
Calvinball wrote:Pacino was right.
kopphanatic wrote:Runyan has no business being anywhere near the House of Representatives.
Adler has proved to be a sell-out dbag though.
traderdave wrote:Yeah, I need to learn more about it but from what I've read/heard so far I think I'm with Christie on this one. And really, if they are estimating $11 billion to finish the project I'm figuring the final, final figure would've been closer to $13-$15 billion. My taxes are high enough thank you very much.
TRENTON, N.J. (AP) - Gov. Chris Christie agrees to rethink decision on NY-NJ rail tunnel.
jerseyhoya wrote:I'd like to get a more detailed timeline on this, but it seems the extent of the overruns was only uncovered after he ordered the project to be put on hold so they could review how the budget was going. Being for something when it is going to cost your state $2.7 billion and against it when they say it might cost $8 billion isn't necessarily a cynical ploy to boost one's standing within the national party. $5.3 billion is a lot of money when your state is broke.