My Bloomberg debate with Noah Smith

Here is one of my bits:

Cowen: Now, let me make a bit of a separate point, but this is an important one. I think we would agree that activist fiscal policy isn’t massively popular with American voters. The attitude of “let’s just try some, it might work out,” or “it’s fine to waste resources, if we boost demand” contributes to that unpopularity. Support for fiscal stimulus is pretty scarce. Let’s save it up for the really important times. Taxpayers do in fact think that government is always ready to spend on its own priorities rather than the priorities of the taxpayers — let’s not make that more true than it has to be.

Here is the full (edited) dialogue.


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