In the latest Commentary, a letter writer disputes James Pethokoukis’ argument that the Obama stimulus package caused more harm than good.,
Pethokoukis’ brief response is worth quoting:
Brian Robinson is skeptical that the Obama stimulus package contained costs more harmful than its price tag. Perhaps the most damaging was the opportunity cost. A better-designed package—including permanent tax cuts—would have created the certainty needed for stronger shorter-term growth and fostered a better policy environment for more sustainable longer-term growth. The Obama plan did neither, and now a nasty downturn risks evolving into a lengthy period of economic underperformance.
