Tuesday, January 08, 2013


I was actually going to make this point yesterday and forgot, but even if you don't believe that government stimulus is stimulus, we should still take the opportunity to build/fix lots of public infrastructure right now. Unless you think all of our roads/bridges are in perfect repair, I guess. It's cheaper to do so now. Borrowing costs are low, and contractors are willing to work a bit more cheaply than they would in good times.