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Obama’s Stimulus Plan: When is There “Too Much†Stimulus?
The Congressional Budget Office’s announcement Wednesday that 2009’s budget deficit was going to be $1.19 trillion – before a nickel of President-elect Barack Obama’s stimulus plan has been included – raises a crucial question for the U.S. economy: Is there too much stimulus, and what effect would too much stimulus have?
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There is certainly more stimulus than in any previous recession. The benchmark Federal Funds rate is essentially at zero, which has never previously been attempted, while inflation is still…
9Jan2009 | Money Morning | 0 comments | Continued
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