Wednesday, April 22, 2009

President Obama's Fiscal Policy

Look what I found over at GREG MANKIW'S BLOG.

The picture shows federal government revenues and outlays as a percentage of GDP. This does look like significant change to me. But, I am not in favor of the national government's outlays being in the neighborhood of 25% of GDP or more. Nor can I applaud the significant borrowing by the national government which is depicted in this picture, especially since it seems that so much of this debt will be incurred for current consumption.

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