| Congress and the next President will be seriously considering another coordinated fiscal tax stimulus backed by an easing in monetary policy.
Clearly, the G-7 along with the IMF fund and other world's emerging countries are attempting to revive the financial and banking sectors. The recession is affecting the whole world and will have devastating impact on the third world!
But, the UK alone has experienced a loss of 1mm jobs due to the recent financial debacle. So, I have no doubt that we will get some aggressive action within 6 weeks!
The Economist is fairly pessimistic of the world economy and absence any stimulus, the world recession is expected to be very severe.
I agree that there will be another Stimulus package and in fact Congress has already taken the step to discuss another stimulus package post the Election. We shall wait and see shortly what the nature of this package is and whether it is going be considerably greater than the previous package of $150Billion!
I suspect that this time the package will be considerably greater than the previous package of $150Billion and I see the target of this package to be mainly the middle class! These are the folks who are struggling today with their bills and mortgages etc.
Last edited by TaxGuru : 10-14-2008 at 11:28 AM.
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