Links for 2008-12-21

  • Talking Points Memo | Depression Economics: Normal Rules Don’t Apply – «Thus, if everything goes right, the tax cut will trickle down to the unemployed workers, but they aren’t helped directly by, say, a payroll tax cut. This doesn’t have to be the case, it would be possible to target a tax rebate or other program directly at the unemployed workers, but the point is that many tax proposals rely upon the hope that first, the money will be spent instead of saved, and that second, it will then trickle down to help the unemployed. These policies might work, but if we do pursue tax instead of government spending options, my preference would be to target the transfer payments directly at the unemployed workers»;
  • Central Command Head Petraeus | Newsweek The Global Elite | Newsweek.com – «Islamist terrorism cannot be defeated by what the military calls “kinetics” alone. Yet the military commands vastly more resources than the State Department. Soldiers in Iraq and Afghanistan are doing jobs—from political mediation to organizing reconstruction projects—that should be tasks for State and the Agency for International Development. But those instruments of American “soft power” have been blunted by years of neglect and misuse»;