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Face Off: CSU shares stance on Obama's economic stimulus bill
Ian Bezek
Issue date: 2/16/09 Section: Opinion
Over the past week, all eyes have been on Washington as the near $800 billion economic stimulus plan worked its way through both chambers of Congress.
The Collegian set out to find out how CSU students feel about this massive spending bill.
Shabda Gyawali, a senior exchange student from Nepal majoring in economics, and Chad Bohac, a junior environmental health student, were kind enough to chat with us and share their thoughts.
Shabda Gyawali, senior economics major
Q: How do you feel about the stimulus plan that's been proposed?
A: ... There is something to be done for the economy, but this is not the right approach to go, because if you look at the bill, you see that the people are talking about building bridges, and there are tax cuts and other stuff, but the majority of the construction workers which produce immediate jobs are not going to even start. Most will start in 2010. ... What we need right now is confidence in investors -- something needs to be done immediately.
Q: Do you think there is an alternative the government could put forth, in terms of spending money, or do they need a different approach?
A: We have to think ... this financial crisis is not U.S.-based but the whole global-based. You can't say China is manipulating the currency when you're trying to borrow money from China.
Q: Do you think there is anything globally that can be done, or is there no way the government can intervene?
A: I think globally it can be done. I think the G7 meeting (was) held in Rome, but I think it's just a proposal of having a 'Buy American' clause in the bill -- people are saying buy steel and metals which are made in the United States - this is going to send a wrong signal to the other countries. I think there should be a global coordination. Something bigger than International Monetary Fund (needs to be created) or the IMF needs to be restructured and there will be a solution. In the short term it's not the stimulus package that is going to help the economy, it's more confidence in investors and in the credit market.
The Collegian set out to find out how CSU students feel about this massive spending bill.
Shabda Gyawali, a senior exchange student from Nepal majoring in economics, and Chad Bohac, a junior environmental health student, were kind enough to chat with us and share their thoughts.
Shabda Gyawali, senior economics major
Q: How do you feel about the stimulus plan that's been proposed?
A: ... There is something to be done for the economy, but this is not the right approach to go, because if you look at the bill, you see that the people are talking about building bridges, and there are tax cuts and other stuff, but the majority of the construction workers which produce immediate jobs are not going to even start. Most will start in 2010. ... What we need right now is confidence in investors -- something needs to be done immediately.
Q: Do you think there is an alternative the government could put forth, in terms of spending money, or do they need a different approach?
A: We have to think ... this financial crisis is not U.S.-based but the whole global-based. You can't say China is manipulating the currency when you're trying to borrow money from China.
Q: Do you think there is anything globally that can be done, or is there no way the government can intervene?
A: I think globally it can be done. I think the G7 meeting (was) held in Rome, but I think it's just a proposal of having a 'Buy American' clause in the bill -- people are saying buy steel and metals which are made in the United States - this is going to send a wrong signal to the other countries. I think there should be a global coordination. Something bigger than International Monetary Fund (needs to be created) or the IMF needs to be restructured and there will be a solution. In the short term it's not the stimulus package that is going to help the economy, it's more confidence in investors and in the credit market.
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Peace Love
posted 2/16/09 @ 6:39 PM MST
Due to the now widely known lack of stimulus in the Democrats stimulus bill, they have decided to change its name to more truly represent the affect of the bill on all of us. (Continued…)
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