22-10-2024, 03:15 PM
Congress to Vote on Second Massive Stimulus Package
After already approving 12 trillion DDO under the old budget, Congress is voting on a second stimulus that would almost double the current budget. The vote comes shortly after Congress significantly cut income and sales taxes in an effort to spur consumption. Chief Economist William Arnold said that he feels confident that GDP can grow at an annual rate of no less than 20% over the next decade or so, and that reduced taxes and deficit spending are an important part of making such growth possible.
Gross Domestic Product grew by more than 230% in March, and it is expected to double in April. However, not everyone is jumping on the growth bandwagon yet. Respected economist and author Vishi Mildagi says that such a large deficit cannot be sustained over the long run. Eventually, says Mildagi, "the government will go bankrupt or there will be hyperinflation, both of which would send Dorvik into a century of poverty. I feel sure that the government will get away with it in the short run, but eventually the people will see that it cannot be sustained."
After already approving 12 trillion DDO under the old budget, Congress is voting on a second stimulus that would almost double the current budget. The vote comes shortly after Congress significantly cut income and sales taxes in an effort to spur consumption. Chief Economist William Arnold said that he feels confident that GDP can grow at an annual rate of no less than 20% over the next decade or so, and that reduced taxes and deficit spending are an important part of making such growth possible.
Gross Domestic Product grew by more than 230% in March, and it is expected to double in April. However, not everyone is jumping on the growth bandwagon yet. Respected economist and author Vishi Mildagi says that such a large deficit cannot be sustained over the long run. Eventually, says Mildagi, "the government will go bankrupt or there will be hyperinflation, both of which would send Dorvik into a century of poverty. I feel sure that the government will get away with it in the short run, but eventually the people will see that it cannot be sustained."