Too Timid By Half?

WSJ today says Team Obama is talking with Congress about a $500 billion stimulus over two years, and they're having at least one independent forecaster model the potential impact. But that’s just $250 billion a year – less than 2% of GDP - - when other economists this week have been talking about needing more like $600 billion per year for two years to offset the contraction in private sector demand. Here’s hoping the reporting is off and they’re planning something with more shock and awe.


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