RE "TO a degree, rhetoric contrasts with stimulus plan" (Page A14, Feb. 11): Harvard economist Martin Feldstein is correct to question whether Americans will spend the tax cut proposed by the Obama administration. My research showed that most middle-class Americans would save it.
But there's a way to ensure spending. The US Treasury should issue time-stamped gift certificates, just like the ones consumers get from
Santa Clara, Calif.
The writer is Mario L. Belotti professor of finance at Santa Clara University's Leavey School of Business.