VitalAccurateThinking

Economic Shock and Awe

It appears the new boss my take an economic lesson from the old boss' shock and awe:

"Some economists have endorsed spending up to $600 billion to revive the economy. Sen. Charles Schumer, D-N.Y., and former labor Secretary Robert Reich, a member of Obama's economic advisory board, both suggested $500 billion to $700 billion.

'I don't know what the number is going to be, but it's going to be a big number,' Goolsbee said. 'It has to be. The point is to, kind of, get people back on track and startle the thing into submission.'"

Frankly, I am shocked neo-Keynesian approach is being taken. We will all pay for this later.

posted by Jim VAT @ 3:35 PM