walleke

Fiscal Policy: What's the Null Hypothesis?

You've got it exactly backwards Mr. Thoma. We have been stimulating the economy for decades. Picture a cow walking down the road. Impatient for the cow to move faster we give it a "stimulus" with an electric prod. At first the cow hustles. But after the fiftieth prod the old cow is ready to drop dead.

What's the difference between a liberal and a conservative? A liberal thinks you can balance the budget by increasing spending, and a conservative thinks you can balance the budget by decreasing taxes.