Thursday, February 05, 2009

Still More "Wanna know why you think what your think?"

On the past three editions of MSNBC's Morning Joe, co-host Mika Brzezinski has relentlessly repeated the claim that funding for "welfare programs" and nutrition assistance included in the recovery bill is "not stimulus," even after CNBC anchor Erin Burnett cited Mark Zandi, the chief economist and co-founder of Moody's Economy.com, on the February 2 edition of the show, and said that "[f]or food stamps, that temporary increase, you put a dollar in there, you get about $1.73 out" and that for "[u]nemployment benefits, you get $1.63 per dollar. " Burnett also said: "So a lot of these measures, short-term, would increase spending. There's no question."

On the February 3 edition of Morning Joe, Brzezinski said of the recovery bill: "There's a lot of welfare in there. There's a lot of spending. It's not stimulus." Host Joe Scarborough replied: "We're the side of good Americans who are concerned about this package. We want a stimulus package." Brzezinski then added: "[President Barack Obama] may be the second coming, but the bill is not a stimulus package." When Scarborough later said, "We can do a lot of different things other than just spending money on old-style welfare programs," Brzezinski echoed, "Welfare programs," adding, "I'm all for food stamps, but why are they in this bill?"

... more on Media Matters after the click.

Hint: Mika, because it churns more money than just about any other vehicle open to stimulate the economy! Hungry people take their food stamps to the grocery store IMMEDIATELY and buy something. Giving a tax break to a wealthy person isn't going to get them to eat more. And it's really sad, because Mika is the smart one!

Republicans treat government "spending" (which should better be characterized as investment) as if the money was going to leave the planet. Infrastructural spending puts people to work. Food stamps puts people to work ... because it increased purchases at the local store allowing the store to buy more goods, which in turn means someone has to produce those goods and that means jobs. Increases in unemployment benefits creates more jobs, because people who have little money tend to spend what they have. They don't stash their money in off-shore accounts! They spend it! That spending creates demand ... demand drives production and increased production creates jobs ... a point lost on some who see "poor people" as simply a drag on the economy.

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