the neo-Keynesians call "fiscal contraction." This is a dubious economic theory even if spending were being cut, but yesterday's mid-year report from the Congressional Budget Office shows definitively that there's been nothing close to contraction in Washington.
the neo-Keynesians call "fiscal contraction." This is a dubious economic theory even if spending were being cut, but yesterday's mid-year report from the Congressional Budget Office shows definitively that there's been nothing close to contraction in Washington.
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