No fewer than eight pieces of legislation dealing with hydroelectric projects and dams in the Far West and Alaska have passed muster by the Congressional Budget Office and returned to the Senate for further action.
If approved by Congress and signed by the president, the bills could boost government spending as part of the much talked about infrastructure plan to boost the economy.
Some of the projects have already been approved and either seek to expand or face delays.
This, however, could clash with an economy already nearing full employment, and the private sector would have to compete with government when hiring workers. In times of an economic downturn, government sponsored jobs are a good thing, supplying wages to those who otherwise would be out of work.
But when times are good and government pulls people from the general work force, companies are unable to hire and may be forced out of business.
It's a narrow path to walk, and government must balance the need for infrastructure improvement with the private sector's need for workers. And when the economy improves, the government must know when to pull back from stimulus programs and let companies continue to prosper.
Likewise, the Federal Reserve Board works toward its goal of making money available at low interest rates to induce companies to borrow for investment and expansion, thus building toward full employment.
Basically, that's where the Fed is now. It is reconsidering its stimulus package as the economy improves, and is likely to raise interest rates again at its next meeting.
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