Tag Archives: fiscal stimulus

A New Depression? The Lessons of the 1930s

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          We often hear the question “isn’t this economic crisis becoming as bad as the Great Depression?” Economists can offer a variety of reassurances, but each of them is quite circumscribed:

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Is $800 Billion Too Big or Too Small? Yes.

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           Congress has finally agreed on a $790 billion stimulus package.   Is it too small, as many Democrats claim (such as Paul Krugman), or too big, as many Republicans claim (such as the minority party leadership in Congress)?     The answer is yes.     It is too big and too small.

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