delong.typepad.com - 11/3/2009
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He talks about the federal budgetary impact of the stimulus program as if it were its net "cost." It isn't.
Of course, the misinformation starts with ABC's Jake Tapper:
$160,000 Per Stimulus Job? White House Calls That 'Calculator Abuse' : Posting its results late this afternoon at ...
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Government Site to Check
Angry Bear —
Mish sends us to "Track the Money," recovery.gov's breakdown of where funds have been sent and spent. He's not happy, but I suspect he's suffering the Jared Bernstein Problem: only looking at one side of the equation. But—and this is the key "but"—the reason it is right to do that is that ARRA money has two-way flow. It supports jobs and production, both priming the pump and moving production forward. This works if (1) the cost is minimal and (2) the production will be saleable (avoid the "double-dip"). Which implies (1) ...
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Arizona's budget: Stumped —
The Economist: Full print edition 30 days ago
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