26 September 2011

Stop-gap government.

The bipartisan Joint Select Committee on Deficit Reduction
has an outstanding opportunity to initiate broad-based tax reform that adopts the recommendations of most bipartisan tax reform commissions of the last 20 years . . . . Sensibly addressing our long-run challenges will do more for the economy than continuing the stop-gap measures that have dominated policy-making for the last three years.
Why plan ahead when a wasteful, temporary expedient has a remote chance of getting the job done?

"Stimulus and the Depression: The Untold Story." By Harold l. Cole and Lee E. Ohanian, Wall Street Journal, 9/26/11.

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