The Big 40
While Paul Krugman and other liberals argue that deficit spending is good in an economy like this, John Boehner points out that more than 40% of federal spending is borrowed money - a shocking fact.
If we weren't wasting money on poorly conceived programs like the stimulus, an argument for more deficit spending might carry more sway. A review of ideas from Krugman, the big borrower, and Niall Ferguson, the Harvard economist who argues for a sort of economic big bang, shows Ferguson making more sense.
How can the stimulus have failed because it wasn't big enough when a huge chunk of the $800 billion remains unspent?