Reports of Mike Castle and the Rest of the House Republican Caucus’ meeting with President Obama to talk about the economic recovery plan will start to filter out soon.
I wonder if Mike will side with the corrupt to the core Radical Republicans who call the shots in the caucus, or if his apology was sincere and he will instead side with working Delawareans?
If you are reading this Mike, (and I know you are) you might be interested in perusing these items from Paul Krugman which demolish your party leaderships economic recovery act talking points:
First, there’s the bogus talking point that the Obama plan will cost $275,000 per job created. Why is it bogus? Because it involves taking the cost of a plan that will extend over several years, creating millions of jobs each year, and dividing it by the jobs created in just one of those years.
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Next, write off anyone who asserts that it’s always better to cut taxes than to increase government spending because taxpayers, not bureaucrats, are the best judges of how to spend their money.
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Finally, ignore anyone who tries to make something of the fact that the new administration’s chief economic adviser has in the past favored monetary policy over fiscal policy as a response to recessions.It’s true that the normal response to recessions is interest-rate cuts from the Fed, not government spending. And that might be the best option right now, if it were available. But it isn’t, because we’re in a situation not seen since the 1930s: the interest rates the Fed controls are already effectively at zero.