1.06.2009

It's Hard to Spend Three Quarters of a Trillion Dollars

Surprisingly, it's hard to spend three quarters of a trillion dollars. My left-leaning friends may disagree, but that much federal money is bound to not be spent well. Ed Glaeser apparently thinks so, and check out the reference to my man Henry Hazlitt over at Market Urbanism.

It seems the Obama teams is finding this to be true too, as it appears it is assigning more of that $750 billion to tax cuts. With just days until Obama's first day on the job, it'll be interesting to see what the final package looks like, and how the American economy - and the American people - respond.
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