Congress has temporarily stalled on the fiscal stimulus package because of political ideologies.
As of Friday, Democratic leaders hadn't formally proposed the fiscal stimulus package that has been talked about almost incessantly for the past two months.
In October 2008, its leaders leapt to action, foiling the impact of the global financial crisis with a 4 trillion RMB fiscal stimulus package.
George Bush's fiscal stimulus package will soon add a short boost.
Economists generally agree that in order to work, any fiscal stimulus package has to be timely, temporary and targeted at those who will spend the extra cash, like low- and middle-income households.
Imports of components for assembly and re-export will continue to decline, but once the government's fiscal stimulus package kicks in, the large planned increase in infrastructure investment will boost imports of raw materials and machinery.
In America the new deficit-focused climate is preventing politicians from passing a temporary (and sensible) fiscal stimulus package without inducing them to tackle the sources of the country's huge medium-term deficit by, for instance, reforming social security.
Germany has at last beefed up its fiscal-stimulus package, as its exports sink.
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When Spain's fiscal-stimulus package provided funds to build low-cost housing, it was criticised for spurring more construction in a country that had already seen too much.
Second, the announcement this week of a massive fiscal-stimulus package suggests the government does intend to do what it can to keep its own economic engine purring.
Meanwhile Kaoru Yosano, the new economy minister with a clear sense of what needs to be done to overhaul the country's finances in the face of an ageing population, was ordered to cobble together a fiscal-stimulus package in response to panicky (and probably unfounded) fears that the economy was tipping into a deep recession again.
America's stimulus package is appropriate to its fiscal position and economic outlook.
Dr. MICKEY LEVY (Chief Economist, Bank of America New York): So, the fiscal stimulus, now that it moves to the top of the priority list, that stimulus package will include some of the components of Obama's economic platform, including tax cuts for the middle and lower income households.
Fabian Society general secretary Andrew Harrop said there was "an unanswerable case for an immediate stimulus package followed by long-term fiscal discipline".
Output may have kept going in the current quarter, but it could well fall again later this year when the current fiscal stimulus runs its course, even if another budget package is forthcoming.
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If that were to be the case, Mr Greenspan suggested that the authorities might have to go beyond the conventional ways of stimulating the economy through monetary policy and fiscal policy (such as Mr Bush's stimulus package) and also look at further improving America's economic flexibility.
With the failure of the Joint Select Committee on Deficit Reduction, or the so-called Super Committee, a scramble is now likely in Congress to determine if it can piece together a package that will preserve some short-term fiscal stimulus.
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Barclays economist Troy Davig said on Friday that the failure of the Joint Select Committee on Deficit Reduction, or the so-called Super Committee, a scramble is now likely in Congress to determine if it can piece together a package that will preserve some short-term fiscal stimulus.
China's stimulus package was the earliest and best-known example of fiscal shock and awe.
Unfortunately, there is no assurance that a new round of fiscal stimulus would be effective, there is little appetite among legislators for a big new package, and the likelihood of pushing one through the new, divided Congress is doubtful.
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