Quote from trader_arb:
You're right, everyone should read a more objective newspaper like the NY times....
The NY Times is somewhat more objective overall in my opinion, though their editorials lean toward a progressive slant. I don't object to any ideological slant in editorials, but when that tone pervades the entire paper, as it does in the WSJ, objectivity goes out the window. Personally, I find the Financial Times to be more objective with regards to US politics than either the WSJ or the Times.
To ByLo i would say that naturally the stimulus bill is going to be a compromise, and as such will not be entirely pleasing to any of us. But the objective was to keep millions of unemployed from being on the streets, and get the money and jobs working quickly. To that end it will be fairly effective. A second objective is that the folks employed should be doing something useful, and to that end it will also be fairly effective.
The problems you mention with regard to schools will have to be addressed in other measures as that will require more time to get right and the solutions needed will not create a lot of jobs. This bill is a job creation stew with some little bits of pork seasoning.
It was reasonable, for example, to take the assistance for low income family planning planning (birth control) out, though god knows it's needed, because that too will not create that many new jobs.
I don't agree with those who believe that the answer is simply across-the- board tax cuts. When you do that you are bound to get a lot of jobs saved in China and Korea, but not necessarily in the US. And tax cuts at the upper end would likely go as much into off- shore investment as into the US. Tax cuts would take much longer to impact the economy and a smaller percentage of the cuts would show up eventually as new jobs. This bill is aimed primarily at creating jobs now! It's not a great bill, but i would not agree that it's a terrible bill. Another round of mailing checks to everyone? Now that would be terrible!
Finally, there are those who believe it's best to let the recession take its natural course and do virtually nothing. Just let it play itself out until supply and demand fall in line. Perhaps, if one can turn a blind eye to human suffering and lives in a gated community, that is the best thing to do. But I would think that if you are unemployed your perspective would be decidedly different.