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Fed study: Tax hikes, not spending cuts, are slowing the recovery

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Why is the Obama recovery the weakest recovery since the Great Depression? According to a new study by the Federal Reserve Bank of San Francisco, it is not because the federal government failed to borrow and spend too little during the height of the economic downturn. In fact, the San Francisco Fed reports that “federal fiscal policy was unusually expansionary during the Great Recession” thanks...

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