Friday, February 13, 2009

Doubling Down on Debt

ARRA is a classic example of a gambler down on his / her luck and doubling down to get even.

Our president, has explicitly stated this principle, by suggesting that we must aggressively prop up the economy by federal spending. It is an article of faith on the stimulation side that Japan's government did not act aggressively enough or fast enough. Even NPR can find the problem with trying to spend our way out of the problem.

Congressman Minnick's stimulus plan looks a lot better, if you buy into the idea that we need to have a stimulus plan

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