The public discussion of social security taxes, unemployment benefits, and stimulus takes place in the language of Keynesian multipliers and stimulus counterfactuals.

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When Republicans tried to insert specific language in the stimulus bill prohibiting cost considerations in determining comparative effectiveness, Democrats shot that down.

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Indeed, the letter to Mr Bernanke criticises QE2 in much the same language used to oppose fiscal stimulus: as a dampener of business confidence and stability.

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Still, the language was not explicit in suggesting that more stimulus was the way to go.

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