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Tuesday, February 8, 2011

"Shovel Ready" was never an appropriate assessment was it?

Support programs for low income households and infrastructure spending are found to be highly expansionary.-NBER Working Paper No. 16759

The path that might have been.


They, the economists who have now left town, were worried that the lags on the spending would take too long. I wonder how they feel now?

Of course, I could be wrong. We might have "escape velocity" any month, now.