More stimulus spending needed?

Discussion in 'Politics' started by Ricter, Aug 12, 2010.

  1. Ricter



    "BMO Calls for More Government Spending, Less Talk of Fiscal Belt-Tightening
    (CBC News – The Canadian Press)

    The Bank of Montreal says the global economy is too fragile for governments to lock into deficit-tightening agendas. The chartered bank says in a new report that most industrialized nations should continue pumping money to support the recovery. The bank says the U.S. is definitely in that camp, and even Canada's federal government should not be so adamant about a hard deadline for ending its stimulus programs.

    The advice comes after a rough week for the global economy and markets that has again raised concerns of a stall to the recovery, or even a double-dip recession.

    Deputy chief economist Douglas Porter says the problem with stimulus so far is not that it hasn't worked, but that it hasn't been really tried. That's especially true in the United States, he says, where whatever money Washington has devoted to pumping up the economy has been undercut by fiscal belt-tightening at the state level.

    In Canada, he says the federal government's stimulus plan has added only about one per cent to gross domestic output from what would normally have been the case. "
  2. Hello


    It makes me mad when bankers come out and say more stimulus is needed. I have an idea for these jokers at the banks requesting more stimulus, How about you tell your banking buddies to start lending again?

    These ass holes were the ones who created a fake credit based economy for years, now when the economy is struggling they have yanked all of it, and now they are trying to get the government/taxpayers to bail their ass out again so that they dont have to put their own money on the line to get the economy going again.
  3. Lucrum


    "More stimulus spending needed?"