President-elect Obama prescribes fiscal stimulus as the cure for
With the exception of a few years during the
Now with the bailout, the budget deficit for 2009 alone is projected to be close to $1 trillion – nearly seven percent of GDP, a figure much higher than at anytime since WWII. If deficit spending were good for the economy, Americans would now be, not on shaky ground, but in Shangri-la.
Donald J. Boudreaux
Don Boudreaux is the Chairman of the Department of Economics at George Mason University and a Business & Media Institute adviser.