Not surprising. Taylor’s a well known critic of deficit spending as the last result of a tanked economy. There’s a long list of economist who disagree with him from the “we didn’t go far enough crowd” of Krugman and Baker on the left to former McCain advisor Mark Zandi (one of the authors of this study) on the right. One thing they all agree on is that the Bush TARP plan prevented the financial system from crashing and the Obama stimulus delivered as expected and, if these Moody guys are right, prevented an out right depression.

I’m sorry, is anyone out there besides me the son or daughter of depression era parents? My old man, born in 1920, spent his first 11 years growing up on the family farm, and the next 5 helping my grandfather sharecrop 100 acres to buy it back. Yeah, the economy sucks, but what is it the Christians say, there but by the grace of god go I.