For a National Investment Bank1

Robert Skidelsky and Felix Martin

Chapter 8 in Learning from the World, 2014, pp 106-113 from Palgrave Macmillan

Abstract: Abstract President Obama is in a bind. He knows that the economic recovery is fragile and dependent on continued fiscal stimulus-hence the bipartisan deal on further tax breaks he brokered in December. But he also knows that the tolerance in Washington for deficits of close to 10 percent of gross domestic product (GDP) is running out. In the short term, the politics of the new Congress will not allow them; in the long term, the President’s own National Commission on Fiscal Responsibility and Reform has warned against them.

Keywords: Gross Domestic Product; Aggregate Demand; Fiscal Consolidation; Financial Service Authority; Quantitative Ease (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-37213-0_8

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DOI: 10.1057/9781137372130_8

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