Below a short TV interview and an article by Joseph Stiglitz, the Nobel prize-winning economist and former World Bank chief economist, where he calls for a further fiscal expansion.
At a recent Parliamentary seminar on the economic case for investment not cuts, it was explained that government investment would not only boost the economy in the short term but would have a "multiplier effect" and so would aid longer term growth and help to lower the debt levels through a higher tax take. In the interview and article Stiglitz make this point in relation to the US economy.
The short video interview can be found at:
http://finance.yahoo.com/tech-ticker/article/425337/Stiglitz:-Washington-Should-Stop-Worrying,-U.S.-Has-%22No-Problem%22-Paying-Off-Its-Debts&comment_start=21
The article "Obama must resist 'deficit fetish'" can be found below and at:
http://dyn.politico.com/printstory.cfm?uuid=B462AFEB-18FE-70B2-A8BADA700309DE3C
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