It looks like we all just might be fiscal Keynesians again. Bernake and Bush have come out tandem in support of a whopping 150 billion dollar fiscal stimulus package. I sure did miss that call yesterday. Although one wonders just what might make it into that package. They have an aversion to anything that would entail longterm fiscal commitments. That leaves direct limited-time transfers and any infrastructure projects that can be ramped up relatively quickly and will take a relatively short-time to complete. It will be interesting to see what is in the plan.
A similar size plan for Canada would entail roughly 15 billion dollars. Lets just hope Harper sticks to his central policy paradigm: follow the leader.
It is kind of fun watching neoliberals cry for the state to rescue the markets. So much for that theory.