Next Debt-Ceiling Histrionics Could Do Real Harm
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June 10 (Bloomberg) -- At this stage in the U.S. recovery,there isn’t much that fiscal policy can do to accelerate growth.Some argue that we need another tax cut, while others wouldprefer increased spending.
Neither is going to happen on a significant scale. Radicalausterity is unlikely and tax reform remains elusive. Newspending on worthy targets, such as decrepit infrastructure andearly-childhood education, isn’t in the cards, either.