Jim Kingsdale

Lower Oil Prices Equivalent to $300B Tax Cut

Yes I think $600 of stimulus spending and tax cuts is a big deal. If you don't, how do you explain that the numbers Congress has been tossing out are so much smaller?

An oil price increase is not like a tax increase in that it's continuation is not assured, that is true. But it is worse than a tax increase in its immediate macro economic impact in a Keynesian sense because not only is the money taken away from consumers but instead of it going to their government and thus providing some benefits as is the case with a tax increase, with an oil price increase 2/3rds of it goes out of the country and has zero economic benefit to the U.S.

You might want to stick to factual analysis - ad hominem accusations don't help anyone.