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Brad DeLong: Things Wrong with Hassett, Hubbard, Mankiw, and Taylor, "The Romney Program for Economic Recovery, Growth"

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Brad DeLong pens a point-by-point dissection of Mitt Romney and his advisers' (GW Bush's former advisers) economic plan and skewers them for proposing the same Bush 'stratergy' that nearly blew-up the global economy and resulted in the largest taxpayer bailout in human history. Here goes: HHMT: We are presently in the most anemic economic recovery in the memory of most Americans, with significant joblessness and long-term unemployment, as well as lost income and savings.

WRONG: We are in the worst downturn, but we are not in the "most anemic" recovery--the recovery of 2001-2004 was more anemic. HHMT should know: three of them held high federal office in the George W. Bush administration that managed that recovery,and back then all four attempted (uncovincingly, IMHO) to rebut claims from people (like me) that the early 2000s recovery was anemic and that more stimulative...

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At delong.typepad.com

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