Fixing The Economy By Screwing In Light Bulbs

By Patrick Appel
Tyler Cowen analyzes parts of Obama's fiscal stimulus plan:

When it comes to fiscal policy, many projects are not very good.  Most projects take a long time to come on-line.  The fiscal stimulus should, most of all, be directed at an effective marginal incentive scheme to keep up state and local spending.  I am still enthusiastic about Obama's economic team, but I am starting to worry a little.  How many of these expenditures actually help needy people?  How many actually will help the economy?  In fairness to Obama this was a radio address, and thus hardly the setting for meaty analysis, but still I am a little underwhelmed.