Arnold Kling on stimulus

Arnold Kling

Having said all that, it is still a bit strange to think of a larger government deficit as a stimulus. If I wrote myself a check for $5000, obviously that would not be a stimulus. If I wrote my daughter a check for $5000 and said that it was coming out of her inheritance, we are saying that would be a stimulus. At a national level, what we are doing is writing checks to our children and taking it out of their inheritance. And, yes, I do think that under present circumstances that will be a net stimulus.