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Guns Guns Guns
Guest
The proposed constitutional amendment, backed by prominent presidential hopefuls like Mitt Romney and Michelle Bachmann, is part of a broader fight over U.S. debt that could lead to a default on government obligations.
Though the amendment is likely to fail, Republicans are planning a separate initiative to slash $3.75 trillion from the budget over ten years in exchange for raising the U.S. debt ceiling.
In times of economic crisis, it is standard practice for governments to increase spending to stimulate economic activity.
The Obama administration tackled the 2007-2009 with a nearly $800 billion stimulus plan.
A group of prominent economists published a letter condemning the Republican amendment proposal.
They said such initiatives could thwart the government's flexibility during economic downturns.
http://www.reuters.com/article/2011/07/20/us-usa-economy-debt-idUSTRE76J2VS20110720
Though the amendment is likely to fail, Republicans are planning a separate initiative to slash $3.75 trillion from the budget over ten years in exchange for raising the U.S. debt ceiling.
In times of economic crisis, it is standard practice for governments to increase spending to stimulate economic activity.
The Obama administration tackled the 2007-2009 with a nearly $800 billion stimulus plan.
A group of prominent economists published a letter condemning the Republican amendment proposal.
They said such initiatives could thwart the government's flexibility during economic downturns.
http://www.reuters.com/article/2011/07/20/us-usa-economy-debt-idUSTRE76J2VS20110720