Brad DeLong — Comment of the Day: Charles Steindel: "That's Kocherlakota's point: through 2020.

I didn't put up Narayan Kocherlakota's view since it is behind the WSJ paywall. Here is some discussion of it.

It really comes down to assumptions since these are estimates and also involve expectations. The uncertainty is pretty think and the best that can probably be done is estimate floor and ceiling. This makes Gerald Friedman's view more plausible than the nay-sayers are willing to admit and it satisfies the skeptics, too, in that significant growth resulting from fiscal stimulus is possible under this.

Grasping Reality
Comment of the Day: Charles Steindel: "That's Kocherlakota's point: through 2020.
Brad DeLong | Professor of Economics, UCAL Berkeley