More Economic Stimulus?
In a few weeks, Obama will ask the Congress to give the economy another boost but what, if anything, should the American government do to help spur national economic growth?
What's the Latest Development?
Weeks ahead of President Obama's request that the Congress act to spur economic growth, a debate rages about what, if anything, should be done. Economists disagree on the matter. "The Obama stimulus is an example of bad advice leading to bad policy. Much of the pressure for additional stimulus now comes from those who want to repeat their error," says Professor Allan Meltzer of Carnegie Mellon. Richard Koo of the Nomura Research Institute argues that the balance sheets of businesses are so anemic that something must be done. He uses 1990s Japan as an example.
What's the Big Idea?
The $800 billion federal stimulus package of 2009 has helped the economy. According to the Office of Budget and Management, the economy is 0.8-2.5% stronger than it would have been absent the Obama stimulus. But given how slow the economic recovery continues to be, this data is hardly a convincing argument for another round of government action. Compromises made by policy makers have worsened matters by making tax cuts temporary, thus encouraging people to save rather than spend, while stimulus money has been slow to reach those who need it.
These five main food groups are important for your brain's health and likely to boost the production of feel-good chemicals.
We all know eating “healthy” food is good for our physical health and can decrease our risk of developing diabetes, cancer, obesity and heart disease. What is not as well known is that eating healthy food is also good for our mental health and can decrease our risk of depression and anxiety.
Infographics show the classes and anxieties in the supposedly classless U.S. economy.
For those of us who follow politics, we’re used to commentators referring to the President’s low approval rating as a surprise given the U.S.'s “booming” economy. This seeming disconnect, however, should really prompt us to reconsider the measurements by which we assess the health of an economy. With a robust U.S. stock market and GDP and low unemployment figures, it’s easy to see why some think all is well. But looking at real U.S. wages, which have remained stagnant—and have, thus, in effect gone down given rising costs from inflation—a very different picture emerges. For the 1%, the economy is booming. For the rest of us, it’s hard to even know where we stand. A recent study by Porch (a home-improvement company) of blue-collar vs. white-collar workers shows how traditional categories are becoming less distinct—the study references "new-collar" workers, who require technical certifications but not college degrees. And a set of recent infographics from CreditLoan capturing the thoughts of America’s middle class as defined by the Pew Research Center shows how confused we are.
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