Paul Krugman has a new column today about what he considers to be the misguided emphasis on getting deficits under control in the midst of a severe recession. He thinks that it is imperative to spend now to spur the economy and become fiscally austere later. How do you tell? When the Fed is no longer up against the zero lower bound. [Of course this zero lower bound is a matter of policy as well - the Fed could start raising rates whenever it decides to]
Anyway, this makes me wonder about the attitudes of my readers, are you generally in favor of more stimulus or more austerity (I don't allow you to be neutral)?
I don't presume you believe in the theory of stimulus - if you don't I assume you will vote on austerity.
Let me know what you think.
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