Brewer's Tavern |
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No one seems to be writing opinion pieces quite the way I would, so I decided to do it myself. The name? Taverns are places where one goes to discuss the interesting events and things in the world, so this is my tavern. I will offer my views on politics, economics, and whatever else strikes my fancy.
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Monday, November 03, 2003
It's all about Jobs, StupidPaul Krugman has this to say about the administration's record on job creation.Stimulating the economy in the short run is supposed to be easy, as long as you don't worry about how much debt you run up in the process. As William Gale of the Brookings Institution puts it, "Almost any tax cut or spending increase would succeed in boosting a sluggish economy if the Federal Reserve Board follows an accommodative monetary policy. . . . The key question is, therefore, not whether the proposals provide any short-term stimulus, but whether they are the most effective way to provide stimulus." Mr. Gale doesn't think the Bush tax cuts meet that criterion, and neither do I. To put it more bluntly: it would be quite a trick to run the biggest budget deficit in the history of the planet, and still end a presidential term with fewer jobs than when you started. And despite yesterday's good news, that's a trick President Bush still seems likely to pull off. |
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