The President’s package offers a wide variety of spending programs and tax cuts, but economists are quick to point out that not all spending is equal when it comes to what will truly stimulate the economy, which is after all, what this plan is designed to do. So Betsy Stark is here again tonight with that angle on the story.
Yeah, Charlie, it’s not just politicians who are arguing over the particulars of the stimulus bill. Economists are also debating which parts of this massive package are really stimulus, which are social policy, and which will do the best job of creating jobs and spending as quickly as possible. We asked three distinguished economists to grade different parts of the almost $900 billion package: former Federal Reserve Governor Lawrence Mayer, Roseanne Altshuler of the Urban-Brookings Tax Policy Center, and Mark Zandi of Moody’s Economy.com.
The grades were strictly on their ability to stimulate the economy, beginning with the $54 billion to increase food stamps and extend unemployment benefits which everyone on the panel gave an “A.” “That is money that comes quickly into the system and is mostly spent, so that’s a very, that’s a perfect example of an effective short-term stimulus.”
Our panel also gave high marks to the $79 billion aimed at helping state governments facing big budget shortfalls. “They have to balance their budget which means that they either have to raise taxes or cut spending and/or jobs, and by helping them now we forestall all of that.” The lowest marks went to one of the smallest provisions: $50 million to fund the National Endowment for the Arts. “We should be supporting the arts, but I don’t see this as being good stimulus.” “The stimulus is something that will help the economy create a lot of jobs and incomes, and uh, this, uh, won’t help.”
And despite repeated calls to help distressed homebuyers (“It’s in an area of the economy where we really need help.”) the panel was skeptical about the economic benefit of the $2.6 billion tax credit for first-time homebuyers. “It’s just too small. It isn’t broad enough and big enough to make a big difference for this very depressed housing market.”
When we asked each of the economists on our panel to give an overall grade on the stimulus bill, they came up with two B+ and one B. The big question they have is how quickly the money the government is allocating will get into the economy, Charlie. They all agree it needs to be fast. All right, Betsy Stark, thanks to you. | |
a variety of : 다양한~, 여러 가지의 ~
tax cut : 감세
be quick to ~ : 재빨리 ~ 하다, 신속히 ~ 하다
ex. He was quick to point out that it has been a team effort.
* be slow to ~ : 느리게 ~하다, ~하는데 느리다
ex. My boss is always slow to tell us about changes in the schedule.
point out : ~ 을 가리키다, ~ 을 지적하다
ex. He pointed out the best beaches on the map. 가리켰다
ex. Thank you for pointing that out. ex. He pointed out that we had two hours of free time before dinner.
when it comes to : ~ 에 대해서 [관해서] 라면 (= speaking of~, as for~ , concerning~ )
ex. When it comes to cooking, I'm all thumbs. 요리라면 난 서툴다. / ex. No one can beat me when it comes to eating. 먹는데 날 따라올 사람은 없을걸.
stimulate : 자극하다 , 활기띠게 하다
* stimulant : 흥분제, 자극제, 자극물, 흥분시키는
* stimulus : 자극, 자극물 ex. give a stimulus to ~ ~에게 자극을 주다
be designed to : ~ 하도록 고안되다
ex. Motorcycle masks are designed to screen out pollutants. 오토바이 마스크는 오염물질을 걸러내도록 만들어 졌다.
particulars : 자세한 내용 ([plural] information and details about someone or something)
ex. I can't really comment without knowing all the particulars.
distinguished : 뚜렷한, 현저한, 저명한, 유명한, <행동 등이 > 뛰어난 (distinguished guests 귀빈)
* distinguish : 구별하다, 식별 [분간] 하다, 구분하다, ~ 을 특징지우다
ex. Reason distinguishes man from the animals. = Reason distinguishes between man and the animals. 이성에 의하여 인간과 동 물이 구별된다
* distinguish oneself : 유명해지다
grade : ~의 등급을 매기다, ~ 의 성적을 매기다, 등급
ex. grade apples for their size 크기로 사과의 등급을 매기다
food stamp : 식량 배급표 (저소득자에 대해 미 연방 정부 가 발행)
* go on food stamps (=receive them from the government): When my father lost his job, we had to go on food stamps.
extend : <손발 등을> 뻗다, 뻗치다, <철도 도로 등을> 연장하다, <기간을> 늘이다, <범위 영토 등을> 넓히다, 확장하다, <은혜 친절 등을> 베풀다
ex. extend sympathy to a person 에게 동정을 베풀다 / ex. extend a helping hand 구원의 손길을 뻗치다
ex. extend one's visit for two more days 방문을 2일간 더 연장하다 / ex. extend a road to the next city 다음 도시까지 도로를 연장하다
unemployment benefit : 실업 수당, 실업급여
short-term : 단기간의 (opp. long-term)
be aimed at : ~ 을 겨냥 한 것이다
ex. The regulations are aimed at the prevention of accidents at work.
ex. The book is aimed at people with no specialized knowledge.
shortfall : 부족(액)
balance : 균형, 평형, 저울, 평형 [균형] 을 잡다 [맞추다]
* balance A against [with] B: A와 B의 균형을 맞추다
= strike a balance (between~ A and B) : (=achieve a good balance between ~) 균형을 이루다[타협하다], 균형적 [공평한] 해결 [조정] 을 찾 다
ex. She is trying hard to strike a balance between maintaining her job and caring for her kids.
forestall : 선수를 치다, ~을 미리 막다 / to prevent something from happening by saying or doing something before it can happen
ex. It's hoped that the bank's measure will forestall a return to high inflation.
provision : [법]조항, 지급, 제공, [pl.] 식량, 양식, 식료 품 / a part of an agreement or law
the National Endowment for the Arts : 국립 예술진흥기금
endowment : 기부, 기부금, [보통 pl.] (천부의) 자질, 재능
ex. natural endowments 천부의 재능
distressed : 괴로워하는, 고민하는, 곤궁한
* distress call/signal (조난신호)
* distress : 괴롭히다, 고민하게 하다, 곤궁하게 하다
ex. She was distressed at the sight. 그 광경을 보고 그녀는 마음 이 아팠다
skeptical : 의심 많은 , 회의적인
ex. be skeptical about[of]~ 을 의심하다
* skeptic 회의론자 , 의심 많은 사람
tax credit : 세액공제 / * tax relief 세금감면(혜택) / * tax return 세 금 신고(서) / income tax return 소득세 신고(서)
* tax rebate : 세금 환급
* tax break : 세제혜택 = tax benefit / * income deduction 소득공제
depressed : 마음이 무거운, 침울한(=heavyhearted), 불 경기의, 부진한
come up with : 방법을(계획이나 해결책 등을) 생각해 내다, 내놓다( to think of something such as an idea or a plan; to produce or provide something that people want)
ex. Is that the best you can come up with?
ex. We're in big trouble if we don't come up with the money by 6 o'clock. 돈을 마련하지 못하면~
ex. Pyongyang has yet to come up with a formal response to the proposal. 북한은 아직 그 제의에 대한 공식 입장을 밝히지 않았다.
allocate : ~을 할당하다
ex. The committee allocates funds to universities. | |