Their usual prescriptions, aimed at containing fiscal spending and tightening monetary policy, were discredited long ago, yet they are still being used.
The government will probably depart from its current austerity plan once unemployment rates reach 6%, but fiscal spending will be heavily constrained.
Zhang warns that if fiscal spending does not speed up quickly, GDP growth faces the risk of falling below 8% in the second quarter.
So I would urge you to think about leverage, where a dollar of fiscal spending -- and this is spending money, primarily, or targeted tax relief -- can leverage a lot of private money.
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"When we talk about fiscal spending and we talk about protecting the taxpayers, it doesn't mean you take that money we save and leave the country for a personal purpose, " she said to Sanford, who didn't respond.
His theory asserts that private sector decisions sometimes lead to unexpected downturns in the economic cycle and, therefore, the public sector, including monetary policy actions by the central bank and fiscal spending by the government are needed to stabilize output.
Commentators also worried about the nation's rising public debt and offered the same alternatives to the New Deal as those who oppose fiscal stimulus spending today: Cut taxes on corporate profits and high-income individuals.
It is based on the fantasy that the nation can return to a sound fiscal footing through spending cuts only.
It seems impossible to dig ourselves out of our fiscal hole by spending cuts even though we should certainly try.
He remains deeply concerned that growth is likely to weaken before it stands a chance of rebounding on account of fiscal cuts from spending reductions to job losses.
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To be sure, he follows the party line, believing that fiscal prudence means spending cuts, especially on entitlements, and that higher taxes of any sort must be avoided.
One of the clearest economic lessons of the past few years is that it is almost impossible to fine-tune an economy by fiscal means (spending increases or tax cuts).
The Fiscal Commission proposes spending cuts and tax increases designed to reduce the deficit to 2.3 percent of GDP by 2015 and to reduce the Federal debt to 40% of GDP by 2040.
He would have, under any circumstances, whether there had been -- if there had never been a showdown over a shutdown, if there had never been a dispute over fiscal year 2011 spending, he was committed to addressing our deficits and debt this year, this spring.
Ryan wants to tighten fiscal policy by 2.6% of GDP from fiscal 2012 to fiscal 2013, and then cut spending 1.2% in fiscal 2013 and 1.3% in fiscal 2014, according to Phillips.
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The euro zone's governments remain trapped between the sterile alternatives of Keynesian spending and fiscal austerity.
In the 2012 fiscal year, Medicare spending per beneficiary grew just 0.4 percent.
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But some of the most partisan issues of the year--like the fiscal stimulus and government spending packages--have already been settled.
Add the fiscal situation, where spending and revenues are completely out of whack, and one sees a constant yearning for safety.
The crucial missing element in Britain's now protracted debate over its fiscal mess is where spending cuts will actually be made.
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The second part of the fiscal cliff is the spending cuts that will come about as a result of the sequestration agreement.
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He has suggested that fiscal stimulus - encouraging spending to boost the economy - is a sensible response to recession if the country can afford it.
Because that measure covers government spending for the rest of the fiscal year, it could address the forced spending cuts to resolve both problems.
One victim of Mr Martin's political weakness may be the former finance minister's famous fiscal discipline: federal spending last year rose by a worrying 15%.
In the short term, with the 109th Congress having punted on fiscal 2007 appropriations, spending authorized by the 2005 surface transportation act hangs in the balance.
The fiscal cliff refers to spending cuts and tax rises, designed to reduce the US government's debt levels, that are due to kick in in the new year.
The fiscal cliff includes government spending cuts and tax hikes on those earning over a million dollars a year, which includes some small businesses registered as S-corps for tax purposes.
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The vote comes less than three weeks after Congress and the White House struck a last-minute deal to prevent the so-called fiscal cliff of sharp spending cuts and tax increases.
It was 4.6% of federal spending in fiscal 2010.
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