During 1993 when the economy was growing slowly, President Clinton recommended a series of spending cuts and
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During 1993 when the economy was growing slowly, President Clinton recommended a series of spending cuts and tax increases designed to reduce the deficit. These were passed by Congress in the Omnibus Budget Reconciliation Act of 1993. Some who opposed the bill argued that the United States was pursuing a “contractionary fiscal policy” at precisely the wrong time. Explain their logic.
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To stimulate expansion the government could spend more o...View the full answer
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Related Book For
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
Question Posted:
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