Quote by Michael Bloomberg
You know, if you look back in the 1930s, the money went to infrastructure. The bridges, the municipal buildings, the roads, those were all built with stimulus money spent on infrastructure. This stimulus bill has fundamentally gone, started out with a $500 rebate check, remember. That went to buy flat-screen TVs made in China.
Summary
This quote highlights a comparison between the infrastructure spending during the 1930s and a more recent stimulus bill. It suggests that in the past, economic stimulus focused on investing in essential public infrastructure such as bridges, roads, and municipal buildings. However, in the context of the current stimulus bill, it implies that the initial economic relief provided in the form of a rebate check was largely spent on purchasing consumer goods, specifically flat-screen TVs made in China. The quote implies a critique of the recent stimulus bill's impact on stimulating domestic economic growth and job creation through infrastructure development.
Topics
Money
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