Sunday, September 25, 2011
Robert Lucas Interview
Mike Rappaport
I must admit to not being impressed by this University of Chicago Economics Professor who won the Nobel Prize. He voted for Obama for very inadequate reasons -- Obama was black and he sounded smart. Similarly, for weak reasons he accepted the Democratic stimulus -- "If you think Bernanke did a great job tossing out a trillion dollars, why is it a bad idea for the executive to toss out a trillion dollars? It's not an inappropriate thing in a recession to push money out there and trying to keep spending from falling too much, and we did that." Not a word about how slowly the money was to be spent or the objects of that spending.
https://rightcoast.typepad.com/rightcoast/2011/09/robert-lucas-interviewmike-rappaport.html
Comments
It is true that McCain was clueless, but he would not have passed profligate spending bills, such as the stimulus and the first budget passed by the Democrats in 2009.
Posted by: Mike Rappaport | Sep 26, 2011 3:30:39 PM
Well, he also pointed out that McCain was completely clueless about the financial crisis (and he could have added, about most of economics as well). As bad a president as Obama is, I doubt that McCain would have been better.
Posted by: Alan Gunn | Sep 26, 2011 6:05:31 AM