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April 03, 2008


Matthew Cain

It's posts like this that make me pleased I found this blog.

Bob B

News of the Real Business Cycle Theory seems not to have reached the Bush administration or the US Congress:

"But now, after more than three decades in the wilderness, Keynesian-style fiscal policy seems to be staging a comeback. On February 13th George Bush signed into law individual tax rebates and temporary investment incentives worth $152 billion (just over 1% of GDP) this year, and $168 billion in total. Passed in record time by the normally sluggish Congress—and before recession is even a certainty—the stimulus is aimed at cushioning America's downturn by getting cash into consumers' pockets and encouraging firms to invest."

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