02-02-2021, 04:10 PM
(02-02-2021, 12:25 PM)mamabug Wrote:(02-01-2021, 12:33 PM)David Horn Wrote: Yeah, that's the fallacy of Federalism. States are close to the people (cities even moreso), but it's the Federal government that has the bottomless checkbook. At the moment, the Dems are shooting for $1.9Trillion, much of it aid to states and cities. If that fails, this will be a worse version of 2009,with a recovery that only benefits the rich -- again.
I wouldn't even say this is a fallacy of Federalism so much as it is a fallacy of thinking there is *any* non-catastrophic way of shutting down an economy for almost a year. Add to that the typical blind spots of government aid and you are almost guaranteed a recovery that only benefits the rich, just as the lockdowns did.
Agreed that the rich have access to tools that make mining any money source easier for them and harder for the rest of us. That's a very serious but separate problem from getting money to those who need it. After the slow-as-molasses recovery in 2009, the lack of adequate stimulus funds was obvious to economists of all stripes (except the kooks, of course). Will getting that right be enough? Hard to say from this side of the problem, but it's necessary in any case. Trimming the wings of the Billionaires is needed too.
Intelligence is not knowledge and knowledge is not wisdom, but they all play well together.