Money Well Spent?: The Truth Behind the Trillion-Dollar by Michael Grabell

By Michael Grabell

The 2012 presidential crusade will, specifically else, be a referendum at the Obama administration's dealing with of the monetary concern, recalling the interval while Obama's "audacity of hope" met the austerity of truth. primary to this is often the ''American restoration and Reinvestment Act of 2009''—the greatest financial restoration plan in American background. Senator Mitch McConnell gave a flavor of the enormity of the cash devoted: if you happen to had spent $1 million an afternoon due to the fact that Jesus used to be born, it nonetheless wouldn't upload as much as the fee tag of the stimulus package.

A approximately solely partisan piece of legislation— Democrats voted for it, Republicans against— the tale of ways the invoice was once handed and, extra importantly, how the money was once spent and to what influence, is understood slightly in any respect. Stepping outdoor the political fray, ProPublica's Michael Grabell bargains a perceptive, balanced, and dramatic tale of what occurred to the tax payers' funds, pursuing the large query via behind-the-scenes interviews and on-the-ground reporting in additional than a dozen states around the state.

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Extra resources for Money Well Spent?: The Truth Behind the Trillion-Dollar Stimulus, the Biggest Economic Recovery Plan in History

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Finanskrisen Tron att krisen skulle leda till en ny politik med stora offentliga investeringar för att ta världen ur ekonomisk stagnation, har kommit på skam. Det IMF räknat på är vad regeringar i världen utlovat för att rädda systemet. Det är pengar som flyttas från ländernas medborgare till finanssystemet. Vill man förklara det enkelt så är det kommande skatteinkomster som är garant för dessa väldiga summor. Men det betyder att dessa skatter inte kommer att gå till den välfärd och offentliga service som vi vill betala skatt för.

Samtidigt fick Island betala de kostnader Hollands och Storbritanniens stater fick när de isländska bankernas filialer i länderna var bankrutta. Trots att det var rika personer som spekulerade med insatt kapital i de uppenbarligen desperata isländska bankerna, krävde England och Holland att Island skulle betala. Ett avtal kallat ”Icesave” förhandlades fram men avvisades av Islands president och gick till omröstning. Vid folkomröstningen avslogs avtalet. Ett nytt förhandlades fram. I skrivande stund har presidenten även avvisat det nya avtalet som i sin tur ska gå ut till en ny folkomröstning.

58 · Ekonomihandboken · Avdelning 1. Finanskrisen Ett allt större finanskapital Den stora förändringen av krisutvecklingen är storleken på det finans­kapital som svävar runt jorden. En bild visar utvecklingen mellan BNP, handel (export) och ­valutahandel. Tittar man närmare på utvecklingen kan man se vilken enorm skillnad det är på bara trettio år. 11 Spekulation, handel och produktion (index 1980=100). 12 Relativ storlek på spekulation, handel och produktion 1980 och 2007. 100 5000 Världens BNP Valutahandel Valutahandel 4000 80 3000 60 92,1% Varuexport Varuexport Världens BNP Valutahandel 54,4% 40 2000 Världsexport Världens BNP 1000 40,1% 20 5,4% 0 0 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 Källa: Went, Robert, Globalization, London 2000; BIS, Triennial Central Bank Survey 2007, 2010; IMF, World Economic Outlook 2008.

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