Sunday, September 18, 2011

Goldman Sachs Chart on Obama's Job Plan

The chart below is from Goldman Sachs and shows how different fiscal policies will affect the economy.  Two thinkgs to note:

First, look at how the current spending will create a fiscal drag, pull down the economy - this is because of the large cutback state and local government spending (the American austerity policy).

Second, look at the effects created by Obama's plan - either hold constant or small stimulus.

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  1. AnonymousOctober 24, 2011 at 4:33 PM

    You should also direct your students to the following link:

    http://www.investors.com/NewsAndAnalysis/Article/588254/201110170805/The-Austerity-Myth-Federal-Spending-Up-5-This-Year.htm

    There haven't been any "large cutbacks". To the contrary, government spending -- federal, state, and local -- continues to increase.

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