Economists Agree Time Is of the Essence for Stimulus

[babylonsister]

Economists Agree Time Is of the Essence for Stimulus

By Steven Mufson and Lori Montgomery
Washington Post Staff Writers
Sunday, February 8, 2009; Page A01


With Congress moving closer to adopting a $820 billion stimulus package and the Obama administration poised to unveil a new bank bailout plan, economists say that the federal government is taking its biggest role in the economy in a generation.

States that once aspired to blaze trails independent from Washington are turning to it for money, banks and businesses that once decried regulation now are seeking federal capital, grants or tax cuts and individuals are looking for tax relief.

"This is a seismic shift in the role of government in our society," said Allen Sinai, chief global economist for Decision Economics. "Those who believe the government can be an effective, positive instrument for good will have another chance to try it," said Sinai, a political independent.

While economists remain divided on the role of government generally, an overwhelming number from both parties are saying that a government stimulus package -- even a flawed one -- is urgently needed to help prevent a steeper slide in the economy.

Many economists say the precise size and shape of the package developing in Congress matter less than the timing, and that any delay is damaging.

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http://www.washingtonpost.com/wp-dyn/content/article/2009/02/07/AR2009020702159.html?hpid=topnews

[rucky]

1. People who have not studied economics say "no shit, Sherlock!"

[ixion]

2. this article is misleading and poorly-written, IMO

"Many economists say" is exactly the same as "Some say". It is not proper attribution.

And it does not note that "many" OTHER economists say that the stimulus is too little too late, and will do nothing at all except make matters worse.

As long as we have lop-sided journalism, we will not be moving towards a solution, but deeper into the Valley of Death. We need REAL information, no propaganda.

Just my two cents.