Wednesday, October 15, 2008

David Brooks on the Stimulus Package

In yesterday’s New York Times, David Brooks says the stimulus plan didn’t work:

It was a failure, because “people spent only 10 percent to 20 percent of the rebate dollars and saved the rest...Martin Feldstein of Harvard calculates the package added 80 billion to the national debt while producing less than 20 billion in consumer spending.”

More evidence the phrase, "We're the government, and we're here to help you," should inspire automatic fear.

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