Tuesday, February 10, 2009

Whose Stimulus Package

Typically sloppy CBC reporting - Heather Hiscox this morning refers to 'Barack Obama's Stimulus Package'.
As far as I know there are two stimulus packages under consideration. There is one from the House of Representatives, so manifestly and embarrassingly laden with pork that even the Senate realized it could not endorse it. There is a Senate package, which is largely the House package, stripped of some of the pork, but also stripped of most of the measures those economists who believe in a stimulus actually think would contribute to a stimulus.
I doubt either of these corresponds very closely to what Barack Obama's economic team would have produced.
There will be a third compromise package, likely combining the worst aspects of the existing two packages. And it will be implemented using stimulus logic.


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