Obama the socialist

[admin]

Yes, although the case for using fiscal, rather than monetary policy post 2008 is very compelling IMHO, although one could say that the $9 trillion wiped of household balance sheets as a result of the housing crash required both. There can be little doubt though that under these circumstances, fiscal policy would have been much more effective, instead we got mild headwinds from fiscal policy and monetary policy had to do all the heavy lifting