Friday, April 26, 2013

It's All Bad

Just in case we've forgotten, contractionary policy is contractionary. It's idiotic to cut spending in a recession. It's idiotic to try to trade a set of unpopular random cuts for a set of unpopular specific cuts. Also, too, it's bad to increase taxes right now (or cut "tax expenditures"), though of course some tax increases are more harmful than others.