Has stimulus spending been less effective than it could have been because of safeguards against waste and fraud?
Jonathan Cohn makes a COUNTERINTUITIVE ARGUMENT about the effects of keeping the economic stimulus program on the up-and-up.
A few excerpts:
A new government report says the stimulus was virtually free of waste, fraud, and abuse. This is supposed to be good news. I’m not so sure.
[E]fficiency isn’t the Recovery Act’s primary purpose. Reviving the economy is. And that’s required spending a vast amount of money very quickly–a goal that, inevitably, is at odds with spending the money carefully. Or, to put it another way, a stimulus that threw a little more money away might have created more jobs.