An economic stimulus is a monetary or fiscal policy enacted by governments with the intent of stabilizing their economies during a fiscal crisis. The policies include an increase in government spending on infrastructure, tax cuts and lowering interest rates. In response to the 2008 financial crisis Congress passed the American Recovery and Reinvestment Act of 2009. The Act included increased spending on energy, infrastructure, education, health and unemployment benefits. The Act will cost an estimated $787 billion through 2019.
@ISIDEWITH10yrs10Y
No
@9F57D8Z8mos8MO
The economy would’ve died. Keynes noted that as less and less people own capital saving is increasing in comparison to spending. It doesn’t take a genius to note that government intervention is occurring to maintain a steady flow of consumers.
@WondrousSquirrelLibertarian8mos8MO
While it's true that Keynesian economics suggests government intervention to smooth out the boom-bust cycle, it's equally important to consider the potential drawbacks. Centralized decision making can sometimes lead to inefficiencies and misallocations of resources. For instance, during the 2008 financial crisis, some argued that the bailouts rewarded reckless behavior by financial institutions. What do you think about the moral hazard this might create? Do you have a solution to prevent such issues while still maintaining a steady flow of consumers?
@ISIDEWITH8yrs8Y
@ISIDEWITH7yrs7Y
Yes, and collectivize all industry
@VulcanMan6 7mos7MO
We literally formed societies in the first place so that many people could come and work together to provide for each other, so that everyone could benefit from the production, labor, skills, knowledge, and care of everyone else in society, infinitely more than any one individual could achieve alone. Privatization destroys that by excluding society's resources, production, knowledge, etc. away from the rest of society and into the hands of a few private interests for their own personal gain. This is a terribly anti-societal, anti-democratic, and blatantly detrimental means of organizing… Read more
@9F7JDRQ8mos8MO
Worker ownership of the means of production means bringing democracy to an incredibly hierarchical and authoritarian system—the workplace—and giving autonomy and control of workspaces to the people who operate them, not the people with the capital to buy the means of production and own the labor of working people. It also means bringing equality to the means of distribution and raising the quality of life for all people as opposed to our current system where quality of life is a commodity afforded only to those who can purchase it.
@ISIDEWITH10yrs10Y
Yes, the government should intervene to boost a recovery
@9FR6PN98mos8MO
We are in extreme need for relief but also fixing housing for all citizens, food and medical costs. These are rights for every human on earth.
@983K76N1yr1Y
Because if the recession of 2008-09 taught us anything, it's that government intervention during a recession will lead to people suffering from it during a lesser period then if it didn't.
@VulcanMan6 1yr1Y
The lack of government intervention before '08 is what led to it in the first place...
@ISIDEWITH10yrs10Y
No, recession is a natural cycle that purges excess
@VulcanMan6 7mos7MO
Recession is a natural cycle...under capitalism. Our current capitalist system is literally designed to undergo a cycle of recessions every few years (called the "boom-bust cycle") as a means of further consolidating wealth into the pockets of the already wealthy elites. That is why poorer people suffer during recessions yet the wealthiest owners get richer. Our system is literally designed to be this way, because this system is not good.
@Yaunti27mos7MO
Wage slavery, poverty, and homelessness are all parts of capitalism. Capitalism gives free reign to businesses to inflate prices and markets as it sees fit. And then the businesses create problems every few years to condense the money, it's true. Capitalism needs to be repealed and replaced.
@9FR6PN98mos8MO
I disagree that this is a valid reason to not provide much needed assistance to all citizens suffering due to the recession.
@ISIDEWITH10yrs10Y
@ISIDEWITH7yrs7Y
Yes, but in the form of tax breaks for low income citizens
@9FL5M6M8mos8MO
While providing tax breaks for low-income citizens can be an effective way to put money directly into the hands of those who need it most, it's important to consider the potential limitations of this approach. First, tax breaks often take time to implement and may not provide immediate relief in times of economic crisis. Second, tax cuts can lead to a reduction in government revenue, which may impact the government's ability to fund essential services and programs, including those that benefit low-income individuals. Additionally, tax breaks may not address the specific needs of cer… Read more
@ISIDEWITH10yrs10Y
@ISIDEWITH10yrs10Y
@98ZWDY51yr1Y
No, set a universal basic income instead
@98D6Q8P1yr1Y
No, set a universal basic income program instead
@9CNX3B910mos10MO
No, set a universal basic income instead
@8DRZ2344yrs4Y
Yes but only if the government is responsible for the recession as in such circumstances like not allowing us to work because of a virus.
@9LD5YZN1mo1MO
Yes, but in the form of tax breaks for Middle and working class citizens, and increased spending on infrastructure.
Yes, but the stimulus should be widely accessible by all citizens, such as in national infrastructure jobs programs like the WPA during the 1930s.
@8MSZPGR4yrs4Y
Yes, but in the form of public works projects
@8LBR7FS4yrs4Y
Yes, but in the form of stimulus checks for low income citizens
@8LBK2JT4yrs4Y
yes but not for the rich
@8G4GFKX4yrs4Y
Yes, but in the form of tax breaks for low income citizens and by increasing taxes on wealthy citizens to cover costs
@97MDD3K2yrs2Y
Yes, in the form of tax breaks for the poor, and increased spending on infrastructure.
@8WTFHFY3yrs3Y
Yes, but in the form of assisting sectors most heavily hit by the recession and in the form of tax breaks for low income citizens.
@dgilb433yrs3Y
Yes, but by initializing government funded projects to providing jobs and opportunities.
@8VNL9MK3yrs3Y
yes, but only to a certain extent
@8TYGCQD3yrs3Y
Yes, but only for low income individuals and people who are out of work or disabled
@8T7FY2G3yrs3Y
Yes, but only to the people that need it
@8Q9PK9M3yrs3Y
Yes, but as pay for jobs to benefit the country such as infrastructure improvements, neighborhood and public cleanup, etc.
@8Q5CXJKIndependent3yrs3Y
Yes, but it is not sustainable, so there needs to be action to restart the economy in other ways, such as providing opportunities to start new businesses or create new jobs.
@8X4BXL93yrs3Y
If we lived in a perfect world, yes. However, those bailouts will go to those already well-protected from financial downturn. If the corruptive influence in our electoral process were mitigated, then yes.
@8V6F6VLRepublican3yrs3Y
Yes, but there has to be a limit otherwise people will take advantage of the system.
@8Q9XCNW3yrs3Y
Yes, but the current way of doing it is garbage. Cut all foreign aid and all aid that goes to large corporations and give it to lower-income American people who can't work during the pandemic.
@8PVR2HY3yrs3Y
Yes. Collectivize industries and reform from hierarchical company structures to things like coops, assist hard hit sectors, promote programs to get people to work along with ubi, and higher taxes on rich and confiscate profits from those who profit from economic downturns and disasters
@9MFX8R76 days6D
The government should have nothing to do with the economy other than to facilitate lawful business and to punish criminals who break the law.
@9MFM7RC6 days6D
only when necessary and after talking to economist about how to inject the money accounting for the money multiplier affect.
@9MDZSRC6 days6D
Should the government give us MORE DEBT to try and get out of the DEBT it originally got us in in the first place.NO,what a silly question.
@9MDYNC27 days7D
Collectivize all industry, but the government should not overdo it with the stimulus and cause inflation
@95ZZS6BIndependent 1wk1W
Depends on the situation at hand. I think sometimes aid is needed but others isn't. I also thing they should cut back on spending all together and aid their own citizens before other countries more then they do.
@9M7X92J2wks2W
Each situation is different. Let's start by looking at what is causing the recession/depression and work from there.
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