When Deficit Spending Worked Wonders

One of the issues that has been debated regarding the pending Stimulus Plan has been concern over how much the proposed spending would add to an already enlarged federal deficit. This is a legitimate concern especially considering that President Bush and his advisors took what was a surplus federal budget and turned it into a [...]

Posted Under: Economic History
This post was written by Dr. Art Pitz on February 16, 2009 Comments (5)

Abraham Lincoln’s Economic Stimulus Package

The two most perplexing questions about the economic stimulus package that the Obama administration and Congress are working on are:

Will it work?
Where will the money come from?

It is useful to look at historical precedents. What does history tell us about the results of economic stimulus packages? The earliest example that comes to my mind, though [...]

Posted Under: Economic History
This post was written by Dr. Art Pitz on February 10, 2009 Comments (6)