While Congress tries to figure out whether the final solution to the economic crisis needs to cost $800 billion or maybe rather $1.1 trillion, the people have already figured out that it won’t work either way.
A CNNMoney.com poll shows that 77% out of 145,000 readers have realized that the spending spree stimulus “won’t make any difference”:
I would add to this: Not only will it not make a difference, it will make the situation worse than it would have been, had the spending not occurred. I explained this on numerous occasions in articles such as The Trouble With Bureaucracy or The Economics of Corporate Bailouts, or Reflate the Economy? Now?? or Welcome to Krugmanland.
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