President Obama reminds us of the importance of the Economic Recovery Bill. Have you helped further the cause today?

Follow this link to hear nearly all of President Obama’s inspiring speech to the Democratic conference as covered by C-SPAN.

I know you have heard snippets of this speech on fhe news shows.  Those snippets were very tantalizing.  The whole speech more than lives up to those enticing snippets.  Unfortunately, the video cuts off a little bit before the end of the speech.

Follow this link to C-SPAN’s coverage of President Obama introducing members of Economic Recovery Advisory Board.

The President makes another strong statement about why we have to get on with the business at hand.

Previously the Congress readily forked over money to the lying, power grubbing former President who had a history of turning Congressional good intentions into executive bad implementation.  They should certainly be able to do at least as much for a President who promises to be open and transparent and has not shown any inclination to be anything but a man of his word.

These words of Barack Obama as quoted in Huffington Post are what I have been waiting to hear.

Now, I read the other day that critics of this plan ridiculed our notion that we should use part of the money to modernize the entire fleet of federal vehicles to take advantage of state of the art fuel efficiency. This is what they call pork. You know the truth. It will not only save the government significant money over time, it will not only create manufacturing jobs for folks who are making these cars, it will set a standard for private industry to match. And so when you hear these attacks deriding something of such obvious importance as this, you have to ask yourself — are these folks serious? Is it any wonder that we haven’t had a real energy policy in this country?

When they try to use ridicule, sometimes you have to ridicule right back.  If only Gore and Kerry knew this, there would have been no Bush presidency.

Follow this link to see the invitation to our Obama Economic Recovery Meeting.

Saturday, February 7 from 2:00 PM – 3:00 PM

Steve and Sharon’s Home (Fiskdale, MA)

We are limited to about 10 attendees

We will get together to discuss how to evaluate different aspects of a recovery plan.

Of all the competing parts of plans that have been proposed, how do we tell which ones are more likely to work?

Follow this link to read the Associated Press story published in the Worcester Telegram & Gazette.

Right on the front page of the newspaper there is mention of the “paradox of thrift”.

This article should go a long way to help people evaluate some of the conflicting proposals for stimulating our economy. Finally, word may be reaching the hinterlands about why tax cuts are not the most effective way to stimulate the economy.

Imagine a world where citizens could discuss the economy based on some actual knowledge about how the macro economy really works.

Follow this link to an article on Huffington Post that claims that in the long-run the Israeli military tactics are not helpful for Israel.

You may disagree with Hamas’s claim to success in the latest conflict.  Your logic may tell you that Israel “won”.  However, the above article explains in what sense Hamas “won”.

Whether or not you think Hamas is manipulating words to describe their “win” or you think that Israel really “won”, it is the eventual result of this conflict that will be decide who was “right”.

Consider the possibility that this author has correctly assessed the situation.

Justifying Israel’s actions because you cannot imagine a strategy that would work better, doesn’t really get us anywhere.  Lack of imagination is no guarantee of success.  If they cannot think of a better strategy, then they need to redouble their efforts to imagine one.

Road To Ruin –  Recession Britain – The real story behind the economic slump.

Follow the above link to see how Britain’s The Guardian is reporting on the financial situation.

As they describe it:

Our writers look at the real story behind the economic slump. We find out how boom turned to bust, ask who’s to blame, and suggest ways out of the mess we’re in.

Follow this link to read Paul Krugman’s Thursday piece on what was wrong economically with President Obama’s inaugural address.

One thing I would like to see Obama do is to correct people like Rep. John Boehner who claim that giving tax cuts is the fastest way to stimulate the economy.

Boehner’s claim might have some credence during normal times.  However one of the key insights of Keynesian economics is exactly why tax cuts fail to stimulate the economy in times of deep recession or depression.

For any rational individual actor who is afraid of job loss, the best thing to do with a tax refund or cut is to save as much of it as possible.  This may put lots of money into banks, but the banks are not lending right now.  Why would a bank lend money to a company that might fail when the banks are teetering on the brink themselves?  Why would a company invest in more capacity when their sales are shrinking?

So a large part of any tax cut will sit on the sidelines waiting for things to get better.

The only major actor who can take a chance on investing money at this time is the U.S. Federal Government.  When other investors see the government putting money into some industries, then they will feel safer in investing money there, too.  This will unlock some of the money that is sitting in cash reserve accoounts waiting to be invested.

I have heard that there are trillions of dollars sitting in semi-liquid assets waiting for the economy to turn.

Follow this link to an article by Steven M. Teles that offers another explanation of what I am trying to say.

If you want to stay involved in pressing for the political change you desire, you will be happy to know that the Obama presidential campaign web methods will continue to work for this change.

Invitation to Join Organizing For America