Interesting comments by CATO institute
On Tuesday the Heritage Foundation, in conjunction with the Club for Growth, held a conference on the supposed stimulus bill. Here's what one of the speakers, CATO Economist Arnold Kling, had to say about the Democrats' economic plans:
“I think about the stimulus as an economist but I feel it as a father. Barack Obama is destroying my daughter's future. It is like sitting there watching my house ransacked by a gang of thugs. That’s how I feel, now back to how I think.”
Evidently in way back in 2000, CATO-boy Kling blogged some suggestions to "W",
"there is a case for thinking in terms of turning the Federal Budget in the direction of a deficit....
Another approach to running a deficit would be to increase Federal spending. However, the notion that the first Republican President-plus-Congress since 1952 would go on a spending spree is difficult to contemplate....
In conclusion, I believe that a large, temporary revenue-sharing program would be a good approach for fighting a recession. This form of fiscal stimulus would quickly find its way into the economy. Unfortunately, I suspect that there is little chance of any Keynes getting through to Bush. "
Since then Kling has been outed by left blogs who see through his "timely" conversion:
I have changed my views some since the year 2000. But I remain a bit of a Keynesian. I just don't think that Obama's policies are Keynesian. They are not what economists would come up with if asked to design a stimulus.
Progressive Bloggers respond:
I think Mr. Kling means, "I have changed my views since January 20, 2009."...
Perhaps he also means is that the skin color of the potential Keynesian has changed markedly. Why else would "some" change of opinion turn into a denunciation of a "gang of thugs" set to ravish one's daughter?
And Mr. Kling, part of the reason the stimulus is not Keynesian enough is the Republican "centrists" who needed to be courted.
and just one more for good times sake,
It is interesting the choice of images that inexplicably pop into the heads of right-wing economists, isn't it?
At least he didn't say that the Obama administration is a bunch of crack-smoking gang-bangers raping our virginal white daughters in front of our very eyes.
All the credit goes to this source (and off course Mr Kling for being so transparently concerned for only what is good for him at the moment):