President Obama admits, toward the end of the talk, "I know that some are skeptical about the size and scale of this recovery plan."
I'll say. Man, that's one gargantuan expansion of government Obama's peddling, and there's debate whether the recovery package itself will stimulate the economy (Keynesian multipliers, and what not), rather than the natural recuperative powers of American hard work and initiative at the aggregate level, facilitated by incentives to produce, save, and invest through lower marginal tax rates.
On Thursday, Robert Barro, a Harvard University economist, labeled all of this leftist stimulus talk "Democratic voodoo economics."
1 comments:
This is a huge stretch. Keynes is not supply side silliness. And Thain sends his regards.
I would like my money back from the first round of bailouts a la Paulson.
Come on, hard work is being done, right or wrong. What is your proposed structure for real? (From one who doubts Summers advice)
BDS and miserable failure was a net joke pulled off by college kids...you live in a one dimensional world if you think it represents anything.
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