Farewell. The Flying Pig Has Left The Building.

Steve Hynd, August 16, 2012

After four years on the Typepad site, eight years total blogging, Newshoggers is closing it's doors today. We've been coasting the last year or so, with many of us moving on to bigger projects (Hey, Eric!) or simply running out of blogging enthusiasm, and it's time to give the old flying pig a rest.

We've done okay over those eight years, although never being quite PC enough to gain wider acceptance from the partisan "party right or wrong" crowds. We like to think we moved political conversations a little, on the ever-present wish to rush to war with Iran, on the need for a real Left that isn't licking corporatist Dem boots every cycle, on America's foreign misadventures in Afghanistan and Iraq. We like to think we made a small difference while writing under that flying pig banner. We did pretty good for a bunch with no ties to big-party apparatuses or think tanks.

Those eight years of blogging will still exist. Because we're ending this typepad account, we've been archiving the typepad blog here. And the original blogger archive is still here. There will still be new content from the old 'hoggers crew too. Ron writes for The Moderate Voice, I post at The Agonist and Eric Martin's lucid foreign policy thoughts can be read at Democracy Arsenal.

I'd like to thank all our regular commenters, readers and the other bloggers who regularly linked to our posts over the years to agree or disagree. You all made writing for 'hoggers an amazingly fun and stimulating experience.

Thank you very much.

Note: This is an archive copy of Newshoggers. Most of the pictures are gone but the words are all here. There may be some occasional new content, John may do some posts and Ron will cross post some of his contributions to The Moderate Voice so check back.


Wednesday, November 16, 2011

Economic Stimulus, Jobs Creation and Other Ponies

By John Ballard

We have heard about jobs, jobs, jobs until my ears are hurting. Everyone in politics and the media wants to talk about jobs and job creation and few, if any (and I include myself among them)  have a clue how to turn the economy around. One proposal getting traction in this, the revival of Randian worship, is called by the joyful term "repatriation holiday." Rather than rant, I'm linking a report, including commentary, than came out yesterday.

Congressional Budget Office Director Douglas W. Elmendorf told the Senate Budget Committee yesterday that, of 13 policy options for creating jobs, increased unemployment benefits ranks first in terms of jobs created per dollars of federal cost. That�s not surprising, given that jobless people are severely cash constrained and would quickly spend most of any incremental increase in cash and that, in turn, would lead to higher demand and job creation.

By sharp contrast, CBO ranks a repatriation holiday last for job creation of the 13 options analyzed. CBO notes that U.S.-based multinational corporations are flush with cash and, even though a holiday would make shareholders richer (leading to some additional spending), �CBO expects that the effect on output would probably be positive but much smaller than the net cost to the government.�


I am indebted for this to David M. F. Schankula whose blog, Barefoot and Progressive, I have been following for a while. (Having been born in Kentucky I love this tagline from Mark Twain: I want to be in Kentucky when the end of the world comes, because it's always 20 years behind.)

There are a couple �repatriation� plans out there, one coming from Tea Partier Mike Lee and that one is co-sponsored by Kentucky�s gift to America, Mr. Rand Paul.... When those two team up, it�s pretty obvious what�s going to happen and even the conservative Heritage Institute could tell you about it:

This sequel to a similar 2004 holiday would, like its predecessor, have a minuscule effect on domestic investment and thus have a minuscule effect on the U.S. economy and job creation.

It�s important to point out that Rand Paul and Mike Lee aren�t the only ones trying to give billion dollar corporations a trillion dollar gift at a time when they least need it. The other proposal introduced by Sen. John McCain has gained the vocal support of the Blue Dog Democrat House coalition and while Ben Chandler hasn�t made his position clear, his buddies are all lined up.

(That last link is to the Blue Dog Coalition in case any readers are wont to tramp around in that swamp.)

No comments:

Post a Comment