Quick Takes from the Weekend … Geithner, Stimulus, Infrastructure

Is it just me, or is this stuff getting nuttier and nuttier by the day?

The very same people who are railing that the TARP hasn’t worked (I agree), say that Geithner (one of the plan’s key architects) needs to be confirmed because he’s the best man for the job (really?) and provides needed continuity (for a plan that they say isn’t working).  Huh?

Geithner — who will head IRS as Treasury Secretary — testified that he does his own  taxes using TurboTax (that’s good, I guess) and blames the software package for not prompting him that he needed to pay self-employment taxes.  And not a single Senator burst out laughing.

I really do think that cheating on your taxes is disqualifying for a job heading up the IRS.

* * * * *

The Congressional Budget Office says that less than 25% of the proposed stimulus package will impact 2009.

Geithner’s answer: 1/3 are refundable tax credits.  When it was pointed out that less than 12% of last year’s tax rebate checks provided any stimulus to the economy, Geithner replied “yes, but that will just be the first installment of a continuing program that (candidate) Obama promised the people”.  So, if it doesn’t stimulate, why’s it in a stimulus package?

* * * * *
Conservative critics are having a field day with some of the specifics, e.g. “aid to contraception clinics”.  An administration spokesperson said that part of the stimulus plan is geared to rebuilding the U.S.  infrastructure … and that the infrastucture is both physical (like bridges) and social.  Talk about Trojan horses. 

* * * * *

On the plus side, critics are opposed to the gov’t replacing much of its auto fleet with new cars.  I like that idea since it’s immediate, helps the auto industry, and can get some more fuel efficient cars on the road (provided that the replaced cars are taken out of service).

Also, there’s much opposition to sweetening unemployment payouts and food stamp programs.  Even if they are usually subject to abuse and usually become permanent entitlements, I say that it’s worth the price to help folks who are really struggling.

* * * * *

Want more from the Homa Files?
Click link =>
  The Homa Files Blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s