41.
December 29, 2008 7:12 am
In macroeconomic terms the term "government" is equally applicable to federal, state and local governments. Contraction in any of them reduces the significance of expansion in any other. Be this as it may the ability of all government branches for expansive stimulation is not infinite and all programs, notwithstanding the simplifications of economic theory, are not equal. Massive increase in unemployment benefits would have an immediate effect on consumption and act as much faster stimulator than investment in infrastructure. It is also socioeconomically fair: the "bailout" beneficiaries, for a change, come from the same sector, which eventually pays for them with taxes.
— Aharon Meytahl, Vestal, New York
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