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This is sort of one of those times — and what that actually tells you is that we need fiscal and monetary stimulus.
"We need fiscal stimulus," said Douglas W. Elmendorf, a former Treasury and Federal Reserve Board economist, and now a fellow at the Brookings Institution in Washington.
We need fiscal constraints".
"We need fiscal policy.
We need Congress, we need fiscal leadership".
Now we need fiscal union, convergence in competitiveness and political union too if Europe is to emerge from this crisis stronger more united and more globally competitive.
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One day deficits were the great evil and we needed fiscal austerity now now now, never mind the state of the economy.
When the crisis hit, we needed fiscal policy right away.
"We just need fiscal sanity," said David M. Walker, the foundation's president and a former comptroller general.
And while in a weak economy fiscal policy ought to be expansionary — as a tax cut would be — a different approach is required over the long haul, he said: "We'll need fiscal austerity to trim the country's budget deficit, which is unsustainable".
Speaking in June 2012 at a Business in Parliament event at Holyrood, he said: We in Scotland need fiscal responsibility.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com