Elizabeth Harrington at CNSNews.com reports that House Minority Whip Steny Hoyer told reporters at a Capitol Hill pen-and-pad briefing that the most stimulative fiscal actions are spending on unemployment insurance and food stamps.
We could subsidize our way to prosperity? Hoyer was asked if any Democrats are “reconsidering the wisdom” of letting the Bush tax cuts expire for the wealthiest Americans given the still struggling U.S. economy:
"I haven’t talked to any who are of that mind," said Hoyer. "If you talk to economists, they will tell you there are two things that are the most stimulative that you can do -- one’s unemployment insurance, the other’s food stamps, okay?”
“Why is that?” he said. “Because those folks who receive those resources must spend them. And they’ll spend them almost upon receipt. Most economists with whom I talk believe that those with significant discretionary income, that that’s not the case.”
Don't give your tax dollars to people who won't spend them immediately! Read more from Liz at CNSNews.com.