Sizing Up The Second Stimulus

Clive Crook's view:

[T]his stimulus is not bigger than the first, not even close. Two-thirds of its "cost" is keeping tax rates where they currently are. There is no new stimulus in failing to put taxes up--in forgoing a drastic fiscal tightening that nobody wanted and nobody expected. Unlike Krauthammer, I think further short-term stimulus makes sense, so I welcome the $300 billion (over two years) or so of extra stimulus in the deal. Oppose this if you like, but please don't call it a bigger stimulus than the first.