Sunday, June 29, 2008

Shiller on Fiscal Stimulus

Bob Shiller concludes that the recent fiscal stimulus is not enough:
The reality of the subprime situation, augmented by the energy crisis, at least suggests that we’d better get ready for another round of rebates. There is little talk of it now, but we should be putting in place another stimulus package like the current one, and stand ready for another after that, and another.
Sounds a bit like a permanent tax cut.