About 20 years ago, Svensson and Persson said that a conservative could find optimal to run a big deficit to tie the hand of future, more progressive, governments. Probably they had in mind Reagan, may it happen again? Here is Matt Yglesias under the influence: ...a plan that spends $700 billion on a bailout ... and giving the taxpayer virtually no upside ... would give an Obama administration no resources with which to implement a progressive domestic agenda in 2009
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Sunday, September 21, 2008
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