Portable fiscal policy question multi-pak

When assessing any proposed fiscal stimulus, ask yourself the following questions:

1. Will more debt ruin my country and cause its economy to crumble or explode?

2. Is this project worth doing in its own right?

3. Will more than 53 percent or more of the expenditures come on-line in the next nine months?

4. Will the program actually target unemployed resources?

5. Has fiscal policy already acted to protect previously planned levels of state and local expenditure?

If the answer to #1 is no, proceed if you can either answer "yes" to #2 or if you can answer "yes" to #3-5 together.  On related issues, here is a very good piece by Hall and Woodward.