Knowing and Making

Just a quick note to point you to a much more detailed analysis of the crowding-out question . As usual on Economist's View, the posting itself is good and the diversity and depth of thought in the comments are perhaps even better. I can't think of another blog anywhere in the world where that's true.

This article is from October, but germane to my discussion of fiscal salesmanship. Cass Sunstein: Wall Street's Lemmings : Why policymakers need to understand psychology as much as economics to solve the financial crisis. A couple of comments below the article point out that psychology is not the only  cause of the financial crisis, but Sunstein is not claiming that. Undoubtedly it makes a big contribution and turning it around (he uses the example of Roosevelt, maybe the best fiscal salesman ever) is within the powers of politicians - Barack Obama of course being the one most capable of it, for many reasons.