Thursday, July 08, 2010

Truly Depressing

DeLong:

I had expected that we economists would have to fight Democratic political advisors who would be pushing for policies that were bad in the long run but that gained votes in the short run. I had never expected to be fighting Democratic political advisors who are pushing policies that are:
  • bad in the long run.
  • bad in the short run.
  • lose votes too.