“Some economists are pressing the White House to enact a second round of stimulus spending or find some other way to avert a prolonged job and wage slump. But the White House is in a tough spot. Officials want to give the $787 billion stimulus package passed in February time to work — only 10% of the spending is out the door so far — and there is little appetite in Congress, particularly among Republicans, for spending more money at a time of record deficits.” (Wall Street Journal, Monday)
The arm wasn’t enough, they’re coming back for the leg.
FEE Timely Classic:
“Inflation in One Page” by Henry Hazlitt