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Politics : View from the Center and Left

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To: michael97123 who wrote (6497)12/9/2005 6:39:27 PM
From: neolib  Read Replies (1) of 542193
 
You need to sop up some of the excess liquidity thru spending cuts but also can tinker with the taxe cuts already in place if only to pay for the war in iraq

Is there any good analysis of the effect of Bush's tax cuts vs the Fed's fiscal policy through the last recession. My gut feeling is low interest rates were more of a factor, but everyone focuses on tax cuts. At least some of the last few years have seen more money flow to consumers from mortgage refinancing than from tax cuts.
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