Do We Need a New Stimulus Package? Estimates of Spending and Tax Multipliers

Harvard economist Robert J. Barro discussed whether the government's enactment of the first stimulus package has reduced or increased private spending, whether public-sector hiring has lowered or raised private hiring, and whether an additional stimulus package should be enacted. He explained his recent research, which shows that, over five years, an extra $600 billion in public spending deters $900 billion in private spending.

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