A Quote by Janet Yellen
At the federal level, the fiscal stimulus of 2008 and 2009 supported economic output, but the effects of that stimulus faded; by 2011, federal fiscal policy actions became a drag on output growth when the recovery was still weak.
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Japan has introduced fiscal stimulus five times in the past seven or eight years and each time it's been a failure and that's not a surprise. Fiscal stimulus is not stimulating in and of itself.
One way to quantify the immigrant contribution to the overall economy is to measure their share of the U.S. economic output. One such examination for the years 2009-2011 found that immigrants contributed 14.7 percent of the total economic output.
One of the things I think is very likely is that with the prospects of robust fiscal stimulus in response to voters mad as hell, the Fed is going to be in there with helicopter money. In other words, they're going to be buying whatever the Treasury issues. They're not going to, in effect, advocate strong fiscal stimulus and then not finance it. And that's helicopter money.
Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.
The claim made by Team Obama that every dollar in stimulus translates into a dollar-and-a-half in growth is economic fiction. The costs of stimulus reduce future growth. No country has ever spent itself to prosperity. The price of stimulus has to be paid sometime.
We've got to be explicit that the road to greater economic success does not lie in this cosy assumption that you can move from a single market through a single currency to harmonising all your taxes and then having a federal fiscal policy and then effectively having a federal state.
As a former member of President Obama's economic team, I have a soft spot for the fiscal stimulus legislation he signed just a month after his inauguration.
Actually, I have been very supportive of a very robust stimulus package from day one. I think this economy has to have a major stimulus initiative because the only group with liquidity is the federal government.
Where fiscal space is low, fiscal policy needs to adjust in a growth-friendly manner to ensure public debt is on a sustainable path, while protecting the most vulnerable.
As a fiscal conservative, I believe one of the most important roles the federal government can play in assuring that our economy remains strong is to keep our fiscal house in order.
Fiscal policy, monetary policy, they need to work together to try and raise the level of growth.
The truth of the matter of is that stimulus money not only doesn't stimulate; it actually reduces output.
There is a big divergence between views on a variety of policy issues from fiscal stimulus to financial regulation. It's my hope and my ambition for the economics profession that as we advance our knowledge, that those discussions will narrow in their focus, and that it will help to have more prudent policy-making down the road.
How can you raise the level of consciousness on this? How can you get the federal government to take the responsibility? Florida does not have a foreign policy. This is a federal policy or absence of federal policy. It's so clear that we're not being treated fairly. We have to come up with a solution. It hurts your head trying to figure out what to do.
Extending federal unemployment insurance is vital for millions of Americans laid off through no fault of their own, and it serves as an important economic stimulus.
Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work.
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