A premature withdrawal of monetary and fiscal stimulus could pull the rug out from under the nascent recovery. Yes, the mammoth federal budget deficit is both appalling and unsustainable. But this is not the time to shrink it by raising taxes or cutting spending.Anyone caught searching for this quote on the Internet will get an automatic "F".
Leave your answers in the comments. The real answer will be posted tomorrow.
3 comments:
Sounds like something Krugman would say.
Jeff that's a good call but unless I'm mistaken, Krugman doesn't seem to be that worried about the deficit.
I'm suspecting KT is giving him the benefit of the doubt because I don't think Biden knows what the hell "nascent" means so I'll just go with the porkulus fall guy in Joey B.
My first guess was also Krugman. Since that guess was already taken, I'll go with his evil doppleganger, Larry Kudlow.
Also, I'll be looking this up later.
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