Obama-themed White Sox hats?

[hPOD]

<!--quoteo(post=17305:date=Feb 11 2009, 12:05 PM:name=rok)-->QUOTE (rok @ Feb 11 2009, 12:05 PM) <{POST_SNAPBACK}><!--quotec-->Let me just add a few points. This notion of $1.73 of output per $1 of govt spending vs $1.02 of output per $1 tax cut is misleading, and I'm not sure I can buy it without seeing the studies. This would imply that all govt spending is created equal or that all tax cuts are created equal. That couldn't be farther from the truth. Infrastructure spending is more stimulative than education spending or welfare spending. Capital gains tax and corporate tax cuts are more stimulative than income tax cuts. Etc etc. I think the jury is still out on a lot of these issues, especially when you consider the burden on the US taxpayer in terms of deficit spending and debt servicing as a result. The size of the current govt is unprecedented, even by the New Deal standards, so I think we need to refrain from assuming what has been proven and what has not until we see this current situation play out and see what the govt and corresponding economy looks like in another 10 years. Again, I'm not advocating doing nothing, but these blanket statements that this will work and that will not, bother me a bit. We are in uncharted territory. Politicians admit this. Economists admit this. I just hope our govt doesn't do anything that is irreversible, because in the end it won't simply be the current generation that ends up paying for this, but our children and grandchildren.<!--QuoteEnd--><!--QuoteEEnd-->

Couldn't have said it better myself.

Excellent points.