Max Baucus: “I might also say that--and I think all economists agree with this point--every dollar spent is stimulative--every…”

“I might also say that--and I think all economists agree with this point--every dollar spent is stimulative--every dollar. Every single dollar in this bill is stimulative--every dollar. All economists would say that--all economists. Now, it is true that some dollars are more stimulative than other dollars. Basically, economists say that dollars spent on roads and bridges and infrastructure and so forth are more stimulative than dollars spent on tax reductions. They all agree on that. In fact, the Joint Committee on Taxation and the CBO sent a letter recently--actually, the Congressional Budget Office, the CBO, sent a letter to this Senate recently--making that very point, and they categorized how stimulative each dollar spent is. The more it is taxes, the less stimulative it is. But it does stimulate the economy, no doubt about it. The more it is not taxes, the more it is bridges and roads and infrastructure, the more it stimulates the economy. There is no doubt about that.”