Hmmm.
they haven't tanked the long term rates yet..still over 3.
The trend has been down since the spring. http://research.stlo...ed2/data/GS30.txt The lowest rate was 2.87% in December 2008. I think it's a very safe bet that 30 year T-bill rates will continue to drop over the next year or longer. It obviously takes longer for long-term rates to fall.
Additionally, they've done nothing on the other side of my equation..which is focus nearly 100% of the stimulus on asset or export producing endeavors. Seems you ignored the post of yesterday where Pres is asking for more money for infrastructure. Simply put, that should have been where the stimulus went.
"Nothing"? - http://webcache.goog...&client=firefox-a
Due to the combined effects of inventory rebuilding, benefits from the ARRA and exports, manufacturing production increased 8.4 percent over the past year. Still, while the current recovery has been stronger than the initial year of growth following the 1990-1991 and 2001 recessions, it has lagged behind the recoveries that followed the 1981- 1982 and 1974-1975 recessions.
The ARRA was full of compromises, and had to be spent in 2 years. Obama's latest proposal is different, and has to be paid for. (I haven't ignored it.) http://iwt.mikevital....iwt?postid=35427 I agree it's long overdue, but your fellow travelers who yell about "TEH TAXES!!!!111" would have tried to scuttle it, and may still try[*]. It's not going to be effective if the Republicans put up roadblocks so he can't get it passed.
State & Local need to learn that they cannot expand services and expenses beyond the bounds of per capita growth rate or inflation.
S&Ls are cutting bone, not fat. Police and Fire are being cut in several areas. The "easy" cuts (turning off lights, closing libraries, closing recreation facilities) have been done already. In my area, the county has around a $1000 (yes, one thousand dollar) budget for road repairs on secondary roads - http://scottsurovell...nding-paving.html .
FWIW. ;-)
[edit:] [*] Speaking of which - http://www.washingto...010_09/025571.php
Cheers,
Scott.
