"These empirical studies leave many leading economists dubious about the ability of government spending to boost the economy in the short run. Worse, the large long-term costs of debt-financed spending are ignored in most studies of short-run fiscal stimulus and even more so in the political debate."
Michael J. Boskin: Why the Spending Stimulus Failed - WSJ.com
Monday, January 3, 2011
Why the Spending Stimulus Failed
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