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Politics : View from the Center and Left

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From: KyrosL	12/11/2010 11:20:14 AM
	Read Replies (2) of 542588

How much stimulus in the Obama/Republican tax package? I think a lot. People compare it to the original stimulus and conclude it's not that big. But, in the final analysis, stimulus is the size of the government deficit, and the tax package boosts that deficit back up to a trillion dollars, roughly the same as it was at the depth of the recession. Why is this a lot? Because we no longer are in a recession. In fact next year we will probably have fairly robust growth in GDP, so the trillion dollar government deficit will act as a potent further booster for the economy. No wonder the bond market is acting up. Which has the potential of screwing things up for Obama, unless he comes up with a credible long term deficit reduction plan.

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