Thursday, August 28, 2003

Brad DeLong: The IMF Is Unhappy with Bush Fiscal Policies

The IMF Is Unhappy: Archive Entry From Brad DeLong's Webjournal: "IMF is extremely unhappy with the feckless Bush Administration's macroeconomic policies"

Feckless is a good word. Bush seems to be determined to follow the 20th century path of Argentina. It's not that deficits are bad (war, recession, etc) or that tax cuts are bad; it's the way that Bush creates deficits and tax cuts that most economists think is completely bonkers.

At some point the bond market is going to start downgrading the US government. I can hardly wait.

It is going to be so painful to recover from this -- assuming we change government in two years.

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