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
@9F57D8Z7mos7MO
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.
@WondrousSquirrelLibertarian7mos7MO
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?
@ISIDEWITH7yrs7Y
@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
@9F7JDRQ7mos7MO
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
@9FR6PN97mos7MO
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.
@Yaunti26mos6MO
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.
@9FR6PN97mos7MO
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
@9FL5M6M7mos7MO
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
@9CNX3B99mos9MO
No, set a universal basic income instead
@9LD5YZN2wks2W
Yes, but in the form of tax breaks for Middle and working class citizens, and increased spending on infrastructure.
@8LBK2JT3yrs3Y
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
Yes, but the stimulus should be widely accessible by all citizens, such as in national infrastructure jobs programs like the WPA during the 1930s.
@8MSZPGR3yrs3Y
Yes, but in the form of public works projects
@8LBR7FS3yrs3Y
Yes, but in the form of stimulus checks for low income citizens
@97MDD3K1yr1Y
Yes, in the form of tax breaks for the poor, and increased spending on infrastructure.
@8WTFHFY2yrs2Y
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.
@8X4BXL92yrs2Y
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
@9LG3SJC1wk1W
Yes they should use a mixture of stimulus and increased infrastructure spending to help our economy when in a crisis. The government should also end all corporate welfare.
@9LCZFTB2wks2W
No, raising taxes on the wealthy and saving for 'rainy days' is a better choice that will reduce the extent and length of recessions anyway.
@9BC59TL 2wks2W
We should give cash and tax breaks to people struggling during a recession and use monetary policy to get us out of a recession.
@9BC59TL 3wks3W
We should give cash and tax breaks to low incomes during a recession and use monetary policy to get us out of a recession
@9L66SXJ3wks3W
Yes, but any stimulus given to corporations must be heavily regulated/monitored and come with strict stipulations. Any aid given to citizens must be given in equal amounts to all citizens regardless of race, gender/gender-identity, sexual orientation, and/or socioeconomic status.
@9KZ4TLH 1mo1MO
Yes, in the form that most supports critical human needs and rights, such as food, shelter, and healthcare.
@9KTMDKGIndependent1mo1MO
Yes But make a savings account taken with social security to provide relief in recessions to families and workers
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