World-News

Independent Institute
by Alvaro Vargas Llosa

09/08/10

Stimulus policies started during George W. Bush’s final year in office and have continued, with vehemence, under Obama — to no avail. The response to this failure betrays a mind-boggling inability to learn the lesson. If almost $1 trillion of fiscal spending and a tripling of the Fed’s balance sheet have not done the trick, leaders should realize by now that the process of economic healing — paying down debts, liquidating redundant assets, saving and, eventually, investing and consuming again — cannot be altered by political diktat...

http://www.independent.org/newsroom/article.asp?id=2857


Informant: Thomas L. Knapp



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