Publication Date: February 2009
Publisher: National Center for Policy Analysis (U.S.)
Author(s): Gerald W. Scully
Research Area: Banking and finance; Economics; Government
Keywords: deficit; multiplier effect; stimulus; government spending
Coverage: United States
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?
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