CBO Analyzes Effects of Fiscal Restraint Scheduled Under Cur

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CBO Analyzes Effects of Fiscal Restraint Scheduled Under Current Law
from CBO's Latest 10 Documents
Policymakers face difficult trade-offs in deciding how quickly to implement policies to reduce budget deficits. On the one hand, cutting spending or increasing taxes slowly would lead to a greater accumulation of government debt; on the other hand, immediate spending cuts or tax increases would represent an added drag on the weak economic expansion.

http://www.cbo.gov/publication/43264