The LA Times asked me and a bunch of people far more distinguished than myself what could be done to stimulate growth in 300 words. Although I think there is a case for further fiscal stimulus, I didn’t see any point in saying so since the political chances of that were zero even before Republicans won control of the House.
I get this, of course. Still, it’s kind of too bad Bruce didn’t say it anyway. Sometimes I think that we reality-based folks cave in to reality a little too quickly. It may be true that we’re not going to get more fiscal stimulus anytime soon, but if that option is being shut down by congressional know-nothings then at least it should be clear to everyone just how many people believe it’s really our first best option and why we’re not getting it. If the public thinks it’s just Paul Krugman yelling about stimulus, that’s one thing. If they know that it’s actually a pretty mainstream position outside of the tea party right, that’s quite another. And in the end, public opinion matters.