“Perspectives on the U.S. Economy: Fiscal Policy Issues”
“A clear and credible path of fiscal consolidation is clearly needed and would do much to remove uncertainty about future policy and thereby build confidence. The reason why such a plan is not being articulated and carried out now is an apparent concern that such a consolidation would remove needed stimulus from the economy. In my view, the fiscal stimulus packages did not stimulate very much if at all and ending them would not have such negative consequences. But the debate is a serious one and for this reason I want to devote the rest of my testimony to explaining why I disagree with those that claim the stimulus has worked.” Read more.
“Perspectives on the U.S. Economy: Fiscal Policy Issues”
John B. Taylor
Testimony before the Committee on the Budget of the U.S. House of Representatives, July 1, 2010.
Image by Salvatore Vuono / FreeDigitalPhotos.net.
