Saturday, February 07, 2009
You Have Another Think Coming
This [stimulus bill-the American Recovery and Reinvestment Act of 2009] is probably the worst bill that has been put forward since the 1930s. I don't know what to say. I mean it's wasting a tremendous amount of money. It has some simplistic theory that I don't think will work, so I don't think the expenditure stuff is going to have the intended effect. I don't think it will expand the economy. And the tax cutting isn't really geared toward incentives. It's not really geared to lowering tax rates; it's more along the lines of throwing money at people. On both sides I think it's garbage. So in terms of balance between the two it doesn't really matter that much.
Harvard Economics Professor Robert Barro, who has another article on the general subject here
Harvard Economics Professor Robert Barro, who has another article on the general subject here
Labels: Robert Barro quote
