Getting Serious about Economic Stimulus

14 January 2009 at 6:08 pm Peter G. Klein 4 comments

| Peter Klein |

WASHINGTON – President-Elect Barack Obama called on Congress to quickly pass a new fiscal stimulus package that would provide nearly $100,000 trazillion gaquillion frijillion in an effort to revive the U.S. economy, which some experts believe has entered a recession.

Sadly, some ethics-free Republican hacks fail to see the wisdom of the plan, which also includes:

$43 nurpillion for job training

$89 bibblydefrillion for community reinvestment

$505 frappakrillion for infrastructure and public works

$732 hominavillion for health care and education

$986 giggitysquillion for Goldman Sachs

Majority Leader Harry Reid is said to be optimistic about the bill’s chances, as the Senate “has already adopted legislation increasing the national debt ceiling to $4,000 pigglywigglyjibbityjabbityfrippityfroppitybadaboomillion.” Nobel Laureate Paul Krugman approves but worries the plan “doesn’t go far enough.”

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4 Comments Add your own

1. Peter Klein Gets Serious About Stimulus! « ThinkMarkets | 15 January 2009 at 9:40 am

[…] Including allocating $986 giggitysquillion for Goldman Sachs. […]
2. Richard O. Hammer | 15 January 2009 at 9:24 pm

Thank you for helping to clear up the meanings of these big numbers. Because, seriously, I would like an education which enables me to think logically on the scale of numbers common in the press.

As a householder I can quickly assess the opportunity costs of a $5000 furnace. I have a feel for that. But to be an educated macro-economist I need a similar feel for a billion dollars (or is it a trillion?)

I read a big number. Is it more or less than the market valuation of General Electric? all real estate in Chicago? the annual budget of California? I’d like to be able to dance quickly with these numbers. I suppose that could be taught.
3. Peter Klein | 16 January 2009 at 10:27 am

I think it’s a bit like digital storage — the units don’t matter, just the numbers. Remember when we measured memory and disk space in kilobytes? Kilobytes, megabytes, gigabytes, terrabytes: they all mean the same thing, depending on the year. 1 isn’t very much, 10 is plenty, and 100 is a lot.
4. Cliff Grammich | 16 January 2009 at 9:55 pm

My goodness, have we really passed the point where Dirksen’s jibe–“A billion here and a billion there, and pretty soon you’re talking real money”–has lost all meaning? Yeah, I guess we did do that years (decades?) ago.

Not related to the points above, but I adored this passage: ‘”The American people have spoken,” said Obama. “They demand change, and I promise that I and every one of my former Clinton administration appointees will work hard to deliver that change.”‘