Many critics of the stimulus bill say that it would be better to do nothing than to inject stimulus into the economy. They cite a GAO report that posits that the stimulus may have long term negative effects. They fail to note the same report posits that the stimulus may have beneficial short term effects to stop the slide towards a depression. This is the same crowd that thinks that tax cuts, and tax cuts alone, will be the salvation of the economy, which, or course is doing something rather than nothing.
This is all a political straw man. The reality is that every appropriations or tax bill has ramifications on the economy. There is no such thing as “doing nothing.” It’s all a matter of degree. More precisely, in a crisis, what’s important is not doing what needs to be done, it’s doing what needs to be done fast. It’s the rate of change that matters. Tossing pebbles will not slay Goliath.
One may question if the items in the stimulus bill will help our economy, but saying it’s better to do nothing is hypocrisy and political pissin’ in the wind.