Tuesday, February 03, 2009

Show-me State

Megan McArdle addresses her commenters who claim it should be up to the opponents of the Stimulus to prove it won't work.

Her response:
Let's recall that the evidence for this kind of stimulus working in this kind of situation basically rests on a single instance (World War II)--the other two times it was tried (Japan in the 1990s and America in the 1930s) the economy basically rolled along in the doldrums for the rest of the decade.

Proponents say that that's because there wasn't enough stimulus, which is possibly true, but not really satisfying, because first, how do we know this package is enough, and second, that leaves us with a belief in the virtues of stimulus that is essentially non-falsifiable. We might as well move macroeconomic policy to the Office of Faith-Based Initiatives.

Amen, Sister!

As I keep saying, this isn't about Stimulus, it's about "Getting Our Way--Finally!" It's not a recession to these guys. It's Christmas!

The Senate was supposed to inject some sanity into the bill. Instead they're injecting more spending. At this rate our only hope is that they get this thing passed and signed before it gets any bigger.

I applied for a job with a government contractor yesterday. I hope I get it, as the government seems to be the one industry that is NOT cutting back.

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