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Feldstein's Heresy on Fiscal Policy?

Posted on August 07, 2008

Here are a few reactions to Martin Feldstein's recent WSJ commentary on the effectiveness of the stimulus package. He says it wasn't cost effective because only around 10%-20% of it was spent on goods and services, and he uses this as evidence against Obama's proposed $1,000 tax rebate:For the stimulus before he was against it, Free Exchange: Martin Feldsteinwrote back in December of 2007 that a fiscal stimulus was needed, and that a good way to design said stimulus was in the form of uniform tax rebates. For once, Congress did just what an economist wanted it to do, introducing a tax rebate s...

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