You I read this before. DeLong's economics are correct here. The rub is that Obama will be blamed if the Repubs. push the economy down. Besides, the political payoff from permanently shutting down unfavored program will outweigh the economic hardhsips, for which they will not be blamed.
On Wed, Mar 23, 2011 at 6:47 PM, Lakshmi Rhone <[email protected]> wrote: > http://delong.typepad.com/sdj/2011/02/berkeley-political-economy-colloquium-february-18-2011-austerity.html > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > > -- Michael Perelman Economics Department California State University Chico, CA 95929 530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
