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a blast from the past
http://www.nytimes.com/2000/08/26/us/the-2000-campaign-the-tax-plan-bush-tax-plan-the-debate-takes-shape.html
Just, you know, for a little of the flavor of what the debate was like ten years ago.
One of the arguments against extending the tax cuts was that tax cuts for the rich were not particularly stimulative.
In any event, at that point (a high point in the business cycle), there were concerns that stimulus might lead to inflation. Of course, that's not newsworthy, ever, since the word "stimulus" seems to provoke a knee jerk "might lead to inflation" no matter how dire the situation is.
Just, you know, for a little of the flavor of what the debate was like ten years ago.
One of the arguments against extending the tax cuts was that tax cuts for the rich were not particularly stimulative.
In any event, at that point (a high point in the business cycle), there were concerns that stimulus might lead to inflation. Of course, that's not newsworthy, ever, since the word "stimulus" seems to provoke a knee jerk "might lead to inflation" no matter how dire the situation is.