Diary

"A Little Underwhelmed"

That’s Tyler Cowen’s reaction to the details of Barack Obama’s fiscal stimulus scheme. He’s being generous. It would be nice if there were others in the mainstream media who would be willing to focus on the issues Professor Cowen highlights and point out that even if one assumed that Keynesian stimulus worked–a dubious assumption–the projects that Team Obama proposes to spend on will either not stimulate the economy nearly fast enough or have so little connection with economic growth that their inclusion in a fiscal stimulus package constitutes one big, giant policy non sequitur.