Tuesday, March 20, 2012

Ponnuru in the Post and Courier

Ponnuru has an column in the local Charleston paper, the Post and Courier. Mostly it is about whether the recovery act created jobs. It was very similar to this. Still, the ending was great:

"In retrospect, Obama would have been better off pushing for more Fed action in 2009--for instance, the Fed could have stopped paying interest on reserves, announced a goal of restoring nominal income to trend, or both--and skipping the unpopular stimulus. The economy would probably be in the same shape, and we would certainly have less federal debt."

I would say, the economy would have probably been in better shape.


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  2. I don't blame Obama for not understanding monetary policy. Who does?

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