Vodkapundit uses some Drudgereport links as a launch pad for discussing BHO economic policy, emphasis mine:
Some of us have been warning you about this since before Obama was even sworn in. Look, stimulus spending can’t work, because of one of three things happens:
- That extra spending means extra taxes which means the whole thing is a wash. (Government spending having some “multiplier” effect unknown to consumer or business spending is a big, fat lie.)
- That extra spending means extra debt, which drives up interest rates, which chokes off growth.
- That extra spending means extra money being printed, which means inflation which means any growth is illusory.
It is not a "big, fat lie" in the slightest. You can easily have a coefficient that is < 1. Maybe in a government context, it would be better termed an "inefficient", but that doesn't negate its life, any more than lack of a birthday negates the life of an infant.
The Other McCain--keeping the math real since 31Feb08