Mark Thoma writes:
Additional fiscal policy measures could make a difference to the unemployed, but instead the administration is proposing policies that might sell well, but only address a tiny fraction of the long-run deficit problem.
I think that in many instances this statement can summarize the differences between those who favor and those who don’t favor fiscal stimulus. Those who favor the stimulus read this statement and think that things just need to be done better. However, myself and others who oppose stimulus recognize that policies that “sell well” are the rule, not the exception when it comes to real world policy design and that this is part of the drawback.