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Economic Stimulus and Chris Shays

by: mcnicastre

Sun Jan 27, 2008 at 14:19:17 PM EST

Last week, Chris Shays released statement promoting his support for a sense of the Congress resolution that bravely took the stand that the United States has an obligation to help those in poverty.

Most of the times sense of the Congress votes come and go with little opportunity for members to take a strong stand. But with the economic stimulus plan in the works, Shays has a perfect opportunity to put his money (or his donor's money) where his mouth is and stand up for a stimulus plan that provides food stamps and full unemployment insurance. The current stimulus plan stripped these provisions, and given Shays' newfound commitment to fighting poverty, now is the perfect time for him to step up and fight for two of the most effective ways to not only fight poverty, but to also provide quick and effective stimulus.

mcnicastre :: Economic Stimulus and Chris Shays

Not only will food stamp benefits and unemployment insurance help fight poverty, but it is also the most effective means of putting money in the hands of those who are liquidity restrained and are likely to spend the money, thus providing economic stimulus that will actually work. Plus the tax rebate will not reach working class families effectively, with 58% of the rebate going to the highest quantiles of the income brackets.

Of course, Chris Shays isn't going to come out and support such a stimulus plan, but then again neither did the Democratic congress, who gave away food stamps and unemployment insurance in the name of bipartisanship. The plan won't do as much as it could to provide stimulus, but it's the best Congress could do given the restraints of the administration and Republican members.

Just another reminder of how important the 2008 election is. A Democratic administration and more Democratic members would have passed a stimulus plan that works and fights poverty, but instead we're stuck with statements of support for sense of the Congress resolutions and economic stimulus that doesn't so much stimulate as it does waste money.

Fun stimulus reading:

http://krugman.blogs.nytimes.com/

http://www.cbpp.org/1-22-08tax...

http://www.cbpp.org/1-22-08bud...