Posts Tagged ‘Fiscal Stimulus’
With mainstream and not-so-mainstream economists (including us) tripping over themselves talking about the need for a stimulus plan (and how the current one may actually be too small), and having just written an article saying the U.S. can probably absorb some more national debt before things go haywire (so did Simon), I thought it was [...]
The US has the opportunity – and perhaps the responsibility – to immediately retake a leadership role in global economic policy thinking, with the pressing priority of preventing the world’s recession from becoming something more serious. But what should be Mr Obama’s priorities in this regard, for example in the run-up to the G20 summit in early April – which, [...]
We know there is going to be a large fiscal surge in the US (the latest estimate is a stimulus of $675-775bn, which is a bit lower than numbers previously floated). This will likely arrive as the US recession deepens and fears of deflation take hold. The precise outcomes for 2009 are, of course, hard [...]
The usual grounds for optimism these days is the fact that the Obama Administration is clearly going to propose a big fiscal package with two components: a large conventional stimulus (spending plus tax cuts); and a big housing refinance scheme, in which the Treasury will potentially become the largest-ever intermediary for mortgages. These ideas are appealing under the [...]
Finally, the global economic policy ship begins to turn. We are now seeing fiscal stimulus package announcements every week, if not every day. And packages that we previously knew about are re-announced for emphasis and with an expanded mandate. In all likelihood, we are looking at a fiscal stimulus in the order of 1-2 percent [...]
Wednesday morning, starting at 10am, I’m on a panel testifying to the Senate Budget Committee about the need for a fiscal stimulus. The other witnesses are Mark Zandi and John Taylor. I’ll post my written testimony after the hearing. I expect to make three main points in my verbal remarks: 1) We are heading into [...]
What exactly is on the table for the G20 heads of government meeting in Washington at the end of this week? One possibility is some sort of synchronized or joint fiscal policy stimulus in most G20 member countries. (Yes, I know that the communique from this weekend’s meeting of finance ministers and central bank governors was somewhat [...]
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Now, About That Stimulus Bill
February 10, 2009 in Commentary
Tags: Fiscal Stimulus
As I understand them, the Republicans’ main reasons for opposing the stimulus bill (0 votes in the House, 3 in the Senate) were: (a) the bill contains too much evil government spending, (b) it doesn’t spend money fast enough to affect the economy, and (c) it’s too big. There are really no grounds for bipartisan [...]