Robert P. Murphy says,
In their zeal to oppose the lunacy of the so-called "stimulus" plan, many radio talk show hosts and other pundits have fallen into the Keynesian trap. Rather than the politicians spending nearly a trillion dollars, they argue, it would provide much more stimulus if the government gave massive tax cuts. This would "put money back in the pockets of average Americans" and they would go to the mall and "get that money into circulation and boost the economy." Read the article here.More spending than we're already doing can't happen unless we produce more first. That's true in spades for spending financed by more credit. In your heart, you know it's true.