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Economic growth is predicted to be 4% for 2010. Governments are going to have to withdraw some of the money they injected into the system or face bigger inflation (and interest). The advantage of inflation for the government is that when wages and employment goes up that the tax take goes up and therefor the budget deficits become smaller without having to raise taxes. This will only work up to a point when unemployment falls too low.
The original bill they passed in early 2009 was guaranteed to preclude unemployment going past 8%. Obviously they didn't allocate enough money to accomplish this, so they should enact another stimulus bill to bring unemployment back to the level when this all started.
Even if the preliminary number holds through two rounds of revisions, few economists see that kind of growth as sustainable. A panel of economists surveyed by msnbc.com said they see U.S. GDP moving ahead at 2.7 percent this year.
The original bill they passed in early 2009 was guaranteed to preclude unemployment going past 8%. Obviously they didn't allocate enough money to accomplish this, so they should enact another stimulus bill to bring unemployment back to the level when this all started.
Canada
This comment was deleted.
[-5 points] 2 years ago by deleted user ReplyEconomic growth is predicted to be 4% for 2010. Governments are going to have to withdraw some of the money they injected into the system or face bigger inflation (and interest). The advantage of inflation for the government is that when wages and employment goes up that the tax take goes up and therefor the budget deficits become smaller without having to raise taxes. This will only work up to a point when unemployment falls too low.
The original bill they passed in early 2009 was guaranteed to preclude unemployment going past 8%. Obviously they didn't allocate enough money to accomplish this, so they should enact another stimulus bill to bring unemployment back to the level when this all started.
Even if the preliminary number holds through two rounds of revisions, few economists see that kind of growth as sustainable. A panel of economists surveyed by msnbc.com said they see U.S. GDP moving ahead at 2.7 percent this year.
Is MSNBC.com a tool of the Republican Party?
I had no idea that Congress set the unemployment rate. They should be investigated for raising it to 9.5% in the first place.
They should also pass a wights bill to lower gravity while they are at it. 9.81 m/s2 is just too high.
This comment was deleted.
[-5 points] 2 years ago by deleted user ReplyIf they did and it was effective there would be another problem they caused because of this measure.
The original bill they passed in early 2009 was guaranteed to preclude unemployment going past 8%. Obviously they didn't allocate enough money to accomplish this, so they should enact another stimulus bill to bring unemployment back to the level when this all started.