Obama's Trillions

by Patrick Appel

Felix Salmon comes out against a second stimulus:

[T]he problem is that spending trillions of dollars is actually extremely difficult, and it’s even harder if you try to front-load it. Government, by its nature, moves slowly, and I get the impression that the “easy” spending and then some was all included in the initial stimulus bill. The “shovel-ready projects” have already been funded, and any extra stimulus might well take years to kick in.

Free Exchange moderates the macroeconomic cage match.