The Worst Bill Since the 30's

Harvard economics professor Robert Barro:

This is probably the worst bill that has been put forward since the 1930s. I don't know what to say. I mean it's wasting a tremendous amount of money. It has some simplistic theory that I don't think will work, so I don't think the expenditure stuff is going to have the intended effect. I don't think it will expand the economy. And the tax cutting isn't really geared toward incentives. It's not really geared to lowering tax rates; it's more along the lines of throwing money at people. On both sides I think it's garbage. So in terms of balance between [spending and tax relief] it doesn't really matter that much.

HT Powerline. And we will have to pay it back. It will take years and years. Our children, and their children will learn the hard way that there's no free lunch.