Posted by
BECOLBY on Saturday, February 07, 2009 9:58:15 PM
The sky is falling, the sky is falling! We need to pass a stimulus bill right away!
OK this may or may not be true, but let us assume for a moment that those shilling for this spending program are right. After all, FDR did it in 1935 and it led to the end of the depression. Right? Well considering the scores of economists that disagree with this statement, I would point out the logical fallacy of Post Hoc Ergo Proctor Hoc, or “after this, therefore because of this”. Just because the Depression ended after FDR enacted the WPA, is not proof that it was the reason the Depression ended. But, again, let us just suppose that this was true, the WPA was the stimulus that primed the pump and ended the Depression.
So now that we are in another depression, oh I mean recession, that is as bad as the Depression, or at least about 1/3 as bad, we need another WPA to save us. Right?
OK, let us assume this is also true. Yes I know, I am assuming quite a lot here, but for the sake of argument, let us keep heading down this road.
So the new stimulus bill will be the new WPA and save the day. Right?
OK, now we get to the meat of my argument. No the stimulus bill is not another WPA. The WPA was mainly used to build bridges, schools, public buildings, and other tangible assets, most of which still exist. The stimulus bill will fix up some buildings, but mainly will spend money on short-term assts such as automobiles and the like. Will the hybrid vehicles purchased with this money still exist in 50 years? I think not. Are there dams and bridges in the bill? Not to speak of. Even the more esoteric aspects of the WPA, such as the Historical Records Survey, helped to organize state and local documents, the historical benefits of which will affect us forever.
So which parts of this stimulus bill will have long lasting affects on our nation? Virtually none. It could be argued that the sections such as the green areas will help the environment, but that is an argument for another blog. There are next to no permanent, tangible assets being created here. Comparing this bill to the WPA is like comparing going on a cruise to building a house. At least the house gives you a tangible asset.