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Politics : PRESIDENT GEORGE W. BUSH
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To: mst2000 who wrote (126057)2/7/2001 9:47:05 PM
From: DavesM  Read Replies (2) of 769667
 
I thought that it is generally understood that large fiscal deficits are inflationary, which require Fed action (usually higher interest rates) to control inflation. Why is it hard to imagine that large Federal surpluses are deflationary, requiring Fed action against the bias for deflation?
Greenspan is in favor of a large tax cut, (I believe)because he understands that deflation is much more socially destablizing than even inflation.
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