Friday, February 13, 2009

Decent, succinct article today

Or blog post, anyway. From Jeffery Frankel. "Is $800 billion too big or too small? Yes."

For those unwilling to read:
It's too small to rapidly bring us back to full employment. Too big because it is potentially pushing our deficits to greater than 10% of GDP, pushing the limits of those lending us money (and dramatically tying our hands in the future).

We unwisely ran deficits the past 8 years and are now piling up debt rapidly.

Hosed.

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