Final proof that EVERYTHING Republicans said about Obama's stimulus in 2009 was a total lie. washingtonpost.com/us-policy/2020… Also, EVERYTHING they said about Fed policy was a lie. They are shameless and Democrats always let them get away with it.
Even now, Democrats are very reluctant to criticize Trump's stimulus because (a) we need stimulus and (b) their programs will get a few bones thrown at them. In my opinion, this legislation should absolutely include a clawback of the 2017 tax give-away. I won't hold my breath.
I'm old enough to remember how upset the Tea Party was about TARP and how certain every member was that it was an Obama program. Actually, it was enacted by the Bush administration after its initial inaction on the economy--driven by free market ideology--made matters worse.
I well remember all the Chicago School members who assured me that monetary policy could handle the problem and said the liquidity trap was a liberal hoax. Then when the Fed did take extreme measures, they assured me that hyperinflation was right around the corner.
From 2010. economics21.org/html/open-lett…
See Anna Schwartz's comments from 3-30-09. She was Milton Friedman's frequent coauthor. cfr.org/event/infrastr…
