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Politics : President Barack Obama
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To: Sr K who wrote (125522)10/28/2012 5:55:49 PM
From: mel221  Read Replies (1) of 149317
 
>> If that were true then every dollar of deficit increase will add nearly the same amount to economic growth.

I am not an economist, but I do not accept that as being true. In a globalized economy, I think it is reasonable for some of the deficit increase to spill over to the trading partners.

There is also a deficit efficiency issue at play here. MM has spoken of it many times. It is taking more and more deficit spending to get a unit of economic growth. That efficiency is get increasingly worse as the debt gets increasingly large.

>> Did $825 billion of stimulus add $825 billion to economic growth?

I don't think so. At least not in the US. But China has been doing well.

>> Did it add $825 billion the following year, and the year after that?

Obama's stimulus package was not $825 billion annually.
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