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Tuesday, September 07, 2010

Finally, an Obama Fiscal Policy Initiative;Too little, too late.

President Obama, facing a high probability of losing the Democratic majority on Congress, finally put forth a paltry $50 bil fiscal policy proposal (compared with $800 bil for the monetary oriented Stimulus Package). Fiscal policy should have been a part of the first stimulus and it should have been $200 bil. as should this proposal. Doing either would kick GDP growth up in the 3% range and bring down unemployment to 7%. Too little, too late.

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