November 10, 2009 at 18:25 PM EST
Richard Koo: a personal view of the macroeconomy
[Skip to the end] I agree, and the deficit of consequence isn’t that high as I think that figure includes the TARP funds which were a form of regulatory forbearance and not spending. Unfortunately, elsewhere he falls short in explaining why deficit spending doesn’t have the downside risks the mainstream attributes to it. Send him a copy [...]
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