On The Polls And The Obamaian Stimulus Package
Most of the headlines suggest that Barack Obama’s stimulus package enjoys wide and deep support among the populace. Russell Roberts points out that things are a little more complicated than that. Just out of curiosity, why is it that a mainstream journalist has not appeared to notice the same thing?
What About The Payroll-Tax Holiday Idea?
It’s interesting that tax cuts have taken a central role in the fiscal-stimulus debate. (We really should be debating whether a massive fiscal stimulus is even the correct approach to the current economic, housing and financial crises. But since conventional wisdom has already hardened around that, forget about it.) In orthodox Keynesianism (perhaps last seen during the Kennedy Administration), tax cuts were the accepted way | Read More »
Barack Obama v. His Economic Advisers
It bears remembering that prior to hitching their stars to the Obama wagon, the economic advisers the President-elect chose took direct issue with many of the items in the expected stimulus package the incoming Administration is going to try to pass through Congress: For example, giving more federal aid to states, one of Obama’s proposals, falls in the “medium” range of cost-effectiveness and carries much | Read More »
Revisiting the Supply-Side Thesis
Everyone’s attention has temporarily shifted away from the automaker bailout, to consideration of a vast Keynesian stimulus program, with some side-distractions relating to the personnel of the US Senate. Don’t worry about the automaker situation: it’ll be back on the front-burner next month as both GM and Chrysler LLC will have burned through last month’s bailout money and will be back for more. A lot | Read More »