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President Obama is finally rejecting the economic arguments of Radical Right-wing Republicans and strongly putting forward an economic agenda that we have long known we need to get out of the economic ditch. The President is rejecting any kind of a deal on debt-deficit. He is also calling for stimulus that is a long-term investment in the American economy and productivity and a jobs program.
America’s greatest economists like Nobel Prize winning economics professor Paul Krugman and Joseph Stiglitz of Columbia University have long said what we need is stimulus to boost consumer demand to grow our way out of this economic ditch.
We simply cannot get out of this depression without growth and consumer demand.