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Reality-Based Economics
A Chequer-Board of Nights and Days — ... trillions of dollars for . . . likely, no effect whatsoever. Behold Hope and Change. Amazingly enough, the mainstream media barely even focuses on the possible objections to the fiscal stimulus schemes of the incoming Administration. One would think that this is the time to ask ourselves whether running the budget deficit into heretofore unexplored territory is a good idea but the media evidently has other plans and has decided to fall down on the job as a consequence. (Thanks to Greg Mankiw for the link.)

Reality-Based Economics
RedState: Conservative News and Community — ... to ask ourselves whether running the budget deficit into heretofore unexplored territory is a good idea but the media evidently has other plans and has decided to fall down on the job as a consequence. It’s nice to see that Jon Henke is on the case–and yes, his label for the stimulus package is quite apt–but other people, people with television cameras and microphones and the ability to generate news stories for the tube, need to be as well. (Thanks to Greg Mankiw for the link.) ...

Debating the Stimulus (Or Not)
The American Scene — ... as I’ve said, from conservative to liberal, acknowledges that direct government spending on a direct program now is the best way to infuse economic growth and create jobs.” This statement is clearly false. As I have documented on this blog in recent weeks, skeptics about a spending stimulus include quite a few well-known economists, such as (in alphabetical order) Alberto Alesina, Robert Barro, Gary Becker, John Cochrane, Eugene Fama, Robert Lucas, Greg Mankiw, Kevin Murphy, ...