Christina Romer quote

Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.
Christina Romer

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Reducing Inflation: Motivation and Strategy (Volume 30) (National Bureau of Economic Research Studies in Business Cycles)
Reducing Inflation: Motivation and Strategy (Volume 30) (National Bureau of Economic Research Studies in Business Cycles)
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