What “Belongs” in the Stimulus?”

The stimulus bill is huge. It’s huge because the macroeconomic situation requires a huge stimulus. The stimulus bill is also multi-faceted. And it needs to be multifaceted because it’s so huge. Targeted tax cuts can be good stimulus, but you can’t do $850 billion of well-targeted tax cuts. Infrastructure can be good stimulus, but you can’t do $850 billion of good infrastructure projects. Long story short, the grab-bag character of the stimulus is a feature rather than a bug.