Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 7, 2021

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Sat Feb 06 20:11:14 +0000 2021

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Paul Krugman @paulkrugman

In particular, most of those "stimulus checks" will probably be saved, and aside from the fact that state/local aid is largely a way to head off fiscal contraction, any excess will probably be banked. 6/ — PolitiTweet.org

Posted Feb. 6, 2021

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Paul Krugman @paulkrugman

Now, wartime spending isn't about stimulus, but is nonetheless stimulative, and overheating can be a real concern. But the Fed can contain inflation; and in any case the less-essential parts of the plan probably have low multipliers 5/ — PolitiTweet.org

Posted Feb. 6, 2021

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Paul Krugman @paulkrugman

So if you're worried about overheating, you shouldn't focus on the notion that the plan is too big; your real concern is that, like fighting a war, doing what needs to be done may be inflationary. And the answer in that case is not to do less, but to limit the inflation 7/ — PolitiTweet.org

Posted Feb. 6, 2021