David Beckworth Scott Sumner talks very good sense sometimes
Don’t tell me that the Dems favor fiscal stimulus because they like big government. The payroll tax cut will make it a bit more difficult to expand the size of government in future years. (As Clinton found in 1993, when he was told the “bond markets” (i.e. the Reagan tax cuts) wouldn’t allow him to enact all his policy ideas.
TheMoneyIllusion » An odd question.
Cross-posted at Asymptosis.
I never thought I’s see Sumner even mention fiscal stimulus. Still, it’s clear he favors QE3 over government spending. And he thinks the idea that the fed can’t do much at the ZIRB is childish.
Which makes me a very old child.
The deal is always that deficts and debt make it impossible to do anything a President wants that interferes with anything the 1% want. Always true when I was in the government and recently, surely true when Bush II spent the surplus and now we can’t afford Social Security, Medicare/Medicaid and SNAP. We can always afford wars, however. QED–Dems are tax and spend fools. NancyO