Wednesday, February 11, 2009

A better stimulus

The House and Senate conference seem to be dumping some of the least effective provisions (e.g. homebuyer tax credit) in the stimulus package. That's good.

However, the final package is really only about $700 billion (you really can't count the $70 billion AMT patch as new stimulus since this has been done every year in the recent past and isn't really a change to current policy). It is a little skimpy compared to what most economists are recommending, so don't expect miracles, but it will help. It should be passed and signed ASAP.

Time to move on to the harder problems; bank bailouts and housing.

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