THE FED GETS IT, HERITAGE HACKS DON'T

Two members of the board of governors of the Federal Reserve have called for massive stimulus spending, no matter what the hacks at Heritage think:

Fed Officials Endorse ‘Big Stimulus’ to Battle U.S. Recession
By Scott Lanman and Vivien Lou Chen

Jan. 5 (Bloomberg) -- Federal Reserve officials, after taking the historic step of cutting the benchmark interest rate to as low as zero, are calling for greater government spending to help revive the U.S. economy.

San Francisco Fed President Janet Yellen said yesterday at an economics conference in San Francisco that “it’s worth pulling out all the stops” with an economic recovery package. Charles Evans, president of the Chicago Fed, told the same gathering he believes a “big stimulus is appropriate.”