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In his 2009 budget proposal for the U.S., President Obama wrote, "Unfortunately, we are also inheriting the worst economic crisis since the Great Depression which will force us to increase deficit spending temporarily as we try to jump start economic growth." Under what conditions is it sensible to use a deficit to finance government spending?
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Long Waves: Longer-term periods of stagnation or growth in the economy, that can last for a decade or more and reflect broader changes in technology, politics, and international re
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