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Will the $800 Billion-Plus Stimulus Plan Bring Economic Recovery?

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Publication Date: February 2009

Publisher(s): National Center for Policy Analysis (U.S.)

Author(s): Gerald W. Scully

Funder(s): National Center for Policy Analysis (U.S.)

Funder(s): National Center for Policy Analysis (U.S.)

Topic: Banking and finance (Banking operations and services)
Economics (Economic policy, planning, and development)
Government (Legislative power and procedure)

Keywords: deficit; multiplier effect; stimulus; government spending

Type: Brief

Coverage: United States

Abstract:

Banker greed and Wall Street are blamed, but government policies over the last 25 years are the root cause of the current financial crisis. Unprecedented attempts by the Federal Reserve and the Treasury to strengthen the financial system have
only been partially successful. The Obama Administration and the Democrat-controlled Congress pushed a deficit spending program of $800 billion-plus. Will this stimulus package bring about economic recovery?