PGL reveals that Kevin Hassett likes to embrace the full Herbert Hoover line that you fight recessions by trying to run a budget surplus. Also he doesn’t understand the difference between real growth in federal revenue and nominal growth in federal revenue. Have I mentioned that when the influential American Enterprise Institute wanted to stage a Monday event on “Responding to the Recession: Exploring the Stimulus Options” they picked Kevin Hassett to moderate. Indeed, he directs economic policy studies at AEI.
I wonder how that whole “Dow 36,000″ thing is going.