Worst-of-Both-Worlds Fiscal Policy

For a couple of years now--ever since we slammed into the zero nominal interest rate lower bound--I have been wandering around saying:

The obvious policy is the long-term debt neutral stimulus: spending increases and tax cuts for the next three years, standby tax increases with triggers and spending caps with triggers thereafter, all calculated to guarantee that the debt is no larger ten years from now than in the baseline.

I haven't found takers--even though those who believe...