27Jul/100
Recession and Fiscal Policy (but not Vice Versa)
Just for fun (click to embiggen):
The chart is total US government spending and deficit, as a % of GDP, since 1946. What I see there is a federal deficit that stays pretty constant - actually, declines readily - except in times of recession (and war - have a look at '02-'03 for a significant jump). Lesson? Recession-fighting may be the single most important element of responsible fiscal policy.
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