Obama in no rush for fiscal package?
Posted by WARREN MOSLER on January 2nd, 2009
Obama Has No Timetable for Stimulus Package
by Steve Leisman
President-elect Barack Obama does not have a timetable to develop and pass an economic stimulus package, according to one of his aides on the transition team.
Still, Obama wants to get a plan in place as soon as possible given the deteriorating economy, this person said.
Wait until the December unemployment report comes out…
However, it is important to get the stimulus plan right in order to get the maximum impact from the effort.
What’s that all about? Lower multiple fiscal adjustments just mean you can do more of them.
It’s about aggregate demand, not governments ability to pay.
Previously, there had been talk of a Jan. 20 deadline for passage of an economic plan. But this is looking increasingly unlikely.
Wonderful…
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January 2nd, 2009 at 1:05 pm
Feldstein just estimated (leaked?) “the end of February” to Leisman
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January 2nd, 2009 at 6:55 pm
I don’t see it?
They print more $$$$$$?
It makes all of the $$$$$ worth less?
The American’s spend $$$$$ at Wall Mart!
All $$$$$ in China again!!
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January 2nd, 2009 at 8:56 pm
End of Feb could be an eternity, especially for the growing number of unemployed.
Dave, the idea is to stop the current trend of falling in prices. Yes, go too far and you trigger an inflationary increase.
So far there has been no fiscal response since about q2 08.
All the Fed and Tsy stuff has merely shifted around financial assets, not created any new one.
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