[Bill_McBride]

John Kirk,

Probably the biggest problems with the stimulus are (1) I don't think the majority has been spent yet - not many of those "shovel-ready projects;" and (2) the blast of federal spending was substantially offset by the slashed state and local spending due to balanced-budget requirements.

It's a fine mess.

Sean and Jud, tax policies to drive initiatives can have double-edged consequences.  For example, take tobacco taxes.  Their primary intent (I guess) was to discourage smoking.  However, state governments have become used to seeing those big inflows and would be unhappy if smoking and those revenues actually declined.

Having said that, I still believe a substantial increase in gas taxes would have many beneficial consequences for our country.  Reduced consumption, funding for energy innovation, funding for infrastructure improvements including mass transit, all positives.

[Jud_T]

Sean,

Government is always going to be the least efficient user of capital.  That applies to ANY tax...

[Dan Herrmann]

Bill - Amen.  We could put a man on the moon, but intercity passenger trains today run SLOWER than they did in 1935, especially if you get outside of the Acela corridor.

Jud, no doubt you're correct.  But I've often wondered why that is.

[Jud_T]

It goes back to Phil's point.  They have no economic incentive like the rest of us.  They get a bunch of money in and they're like kids in the candy store.  Blow it all while the getting's good and worry about the end of the sugar high later....Mommy (the taxpayers) will fix it.

[George Pazin]

I'll believe the pols are serious when Republicans start cutting defense spending and Dems start cutting social spending.

Won't happen in my lifetime...

[Phil McDade]

I'll believe the pols are serious when Republicans start cutting defense spending and Dems start cutting social spending.

Won't happen in my lifetime...

George:

I think there is ample evidence that both parties like this kind of spending. California gets a ton of defense money, and is represented by and large by Democrats in Congress. And I'll be interested to see how all of the newly elected Republicans in Florida tackle Social Security and Medicare spending, given the demographic make-up of their constituents. Mr. McBride may have insights into this....

[Bill_McBride]

I'll believe the pols are serious when Republicans start cutting defense spending and Dems start cutting social spending.

Won't happen in my lifetime...

George:

I think there is ample evidence that both parties like this kind of spending. California gets a ton of defense money, and is represented by and large by Democrats in Congress. And I'll be interested to see how all of the newly elected Republicans in Florida tackle Social Security and Medicare spending, given the demographic make-up of their constituents. Mr. McBride may have insights into this....

Florida's legislature and governors have been by and large Republicans for 15 years, so don't expect any major changes.

Our new governor, Rick Scott.........has anyone ever been elected (Louisiana doesn't count, NJ either most likely) governor after taking the Fifth 75 times in a huge Medicare fraud inquiry?  That's our new governor.  I get all warm and tingly.....

[Jud_T]

Bill,

Florida looks squeeky clean compared to the cesspool that's Illinois.

[Bill_McBride]

Bill,

Florida looks squeeky clean compared to the cesspool that's Illinois.

That's like the old joke that said Wisconsin wasn't #1 party school "because they are professionals!"

[Phil McDade]

I'll believe the pols are serious when Republicans start cutting defense spending and Dems start cutting social spending.

Won't happen in my lifetime...

George:

I think there is ample evidence that both parties like this kind of spending. California gets a ton of defense money, and is represented by and large by Democrats in Congress. And I'll be interested to see how all of the newly elected Republicans in Florida tackle Social Security and Medicare spending, given the demographic make-up of their constituents. Mr. McBride may have insights into this....

Florida's legislature and governors have been by and large Republicans for 15 years, so don't expect any major changes.

Our new governor, Rick Scott.........has anyone ever been elected (Louisiana doesn't count, NJ either most likely) governor after taking the Fifth 75 times in a huge Medicare fraud inquiry?  That's our new governor.  I get all warm and tingly.....

Bill:

Actually I was thinking of your congressional delegation tackling the big federal entitlement programs, and how that might play in the Sunshine State, which according to the Census, has the highest proportion of elderly residents in the country (19 percent); I think those folks have a tendency to vote.

[Phil McDade]

Bill,

Florida looks squeeky clean compared to the cesspool that's Illinois.

That's like the old joke that said Wisconsin wasn't #1 party school "because they are professionals!"

That's the most factual thing stated in the 21 pages of this thread!

[Bill_McBride]

Bill,

Florida looks squeeky clean compared to the cesspool that's Illinois.

That's like the old joke that said Wisconsin wasn't #1 party school "because they are professionals!"

That's the most factual thing stated in the 21 pages of this thread!

Drink up, Bucky Badger!   

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