$145 Billion sounds like a lot. That’s the amount that President George Bush is promising to pump into the US economy in an attempt to avert recession.
Using the latest World Bank data on a purchasing power parity basis this is the equivalent of releasing $7.86 Billiion into the Australian economy. To put this into perspective, promised tax cuts are worth $32 Billion, and no-one seems too worried that these will have a significant effect on inflation or be overly expansionary in the economy.
If the US is going into recession I don’t think this is going to make much difference.
January 20, 2008 | Graham
Bush’s stimulus puny
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F****s.
Comment by Benno — January 23, 2008 @ 8:53 pm
Keep it clean Benno! How have you been? Haven’t seen you on the blog for a while.
Comment by Graham Young — January 23, 2008 @ 10:04 pm
yeah, i thought it might be moderated.
Keeping well, hopefully moving to canberra for a year at the tax payers expense.
Comment by benno — February 2, 2008 @ 4:51 pm