"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money" – Alexis de TocquevilleAnd there's this: "CBO: Obama stimulus harmful over long haul": "President Obama's economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday." Because we have to pay back the money we borrow.
Extra - Greg Mankiw: "My preferred fiscal stimulus."
1 comment:
Sorry, can't agree with Mankiw. As much as an only-two-year quid pro quo between state and federal governments on payroll taxes would be nice to think about, I have yet to see any kind of spending trade like this not continue long beyond its expiry date. Slippery slope indeed.
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