Gradual fiscal consolidation may also be stimulative in the short run.
To me, entrepreneurship means something different. I think of it as identifying and valuing opportunity.
I don't accept as an article of faith that lots of short-term stimulus boosts the economy and gets us back on the long-term trajectory.
In response to the recession, the Obama administration chose to emphasize costly, short-term fixes - ineffective stimulus programs, myriad housing programs that went nowhere, and a rush to invest in 'green' companies. As a consequence, uncertainty over policy - particularly over tax and regulatory policy - slowed the recovery.
President Obama has ignored or dismissed proposals that would address our anti-competitive tax code and unsustainable trajectory of federal debt - including his own bipartisan National Commission on Fiscal Responsibility and Reform - and submitted no plan for entitlement reform.