Bury Keynesian Voodoo Before It Buries Us
Kevin Hassett, Bloomberg
Initial claims for unemployment benefits surged to 500,000 in mid-August, a level more typical of a recession than a recovery. The bad news confirmed what conservative economists have been saying for some time: The biggest Keynesian stimulus in U.S. history was a bust.Incredibly, some Keynesians who supported Barack Obama’s $862 billion stimulus now claim it fell short of their goals not because the idea was flawed, but because the spending package was too small. Christina Romer, the departing chairman of Obama’s Council of Economic Advisers, has become a minor cult hero...
http://www.realclearpolitics.com/2010/08/23/bury_keynesian_voodoo_before_it_buries_us_240208.html
