In today's WSJ, John Taylor writes "Why Permanent Tax Cuts Are the Best Stimulus." It's fairly simple. The permanent income hypothesis has been a staple of economic analysis for many years; stimulus checks may not deliver what's been promised
Bev Dahlby has recently published The Marginal Cost of Public Funds. It's a very serious topic and the lauded "need" for infrastructure spending is not the slam dunk that that we read about in the NY Times.
Two very simple points that must be apparent to the brain trust that President-elect Obama has assembled. I think.