From tomorrow’s WSJ:
If Members of Congress are going to buy this, they should simply cut out the 535 middlemen and let Mr. Barthold write the tax laws.
In the most recent issue of the American Economic Review, Ms. Romer (and her husband David H. Romer) conclude that “tax increases are highly contractionary . . . tax cuts have very large and persistent positive output effects.” Their estimates imply the tax increases would depress GDP by roughly half the growth rate in this so-far-anemic recovery
I thought you were on vacation, grazing among the other Wintercows in the back pasture.
Three years ago, and roughly thirty years ago we knew what stimulus would bring. So much for the Man on the Horse.
The only way we can dig ourselves out of this hole is to grow.
Help is on the way.
Best wishes to the herd.