Elucidate the policy which change would be financed

Reference no: EM1325736

Macroeconomics: Fiscal Stimulus

Fiscal Policy under the Obama Administration: The pattern of spending and revenues by the federal government in the next 10 years (and even the next 50 years) looks problematic. On the other hand, the zero lower bound on nominal interest rates suggests that conventional monetary policy has reached its limits. The fact that interest rates remain high for many borrowers in the country suggests there is scope for a fiscal stimulus (and indeed, this was one justification for the American Recovery and Reinvestment Act of 2009).

Suppose President Obama asks for your advice. In particular, he'd like you to propose one fiscal policy change that you think would be beneficial to the economy. Explain the policy change that you would recommend and how this change would be financed.

Reference no: EM1325736

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