House Republicans are on TV being very cute--alleging that the source for their claim that their alternative stimulus of permanent tax cuts would create 6.2 million jobs is the Romer & Romer paper on fiscal policy.
Hmmm... I get 4 million in the short run using the Romer & Romer multiplier estimate, falling over time and becoming substantially negative after five years as the national debt climbs rapidly.
I wonder what hack they have cooking their numbers.
And on the basis of the Romer and Romer multipliers, the Obama fiscal boost plan would create 8.7 million jobs...
