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Contents
The Uncertain Outlook for the Economy
Actions by the Federal Reserve
Principles for an Effective Fiscal Stimulus
How Much Stimulus Is Appropriate?
Approaches to Reducing Personal Taxes
Deferring or Eliminating Scheduled Tax Increases
Approaches to Providing Incentives for Businesses
Operating Losses and Carryback Provisions
Direct Transfer Payments to Households
Aid to State and Local Governments
Assessing Different Types of Fiscal Stimulus
Proposals for Home Mortgage Markets
Overcoming Impediments to Changing the Terms on Troubled Mortgages
Expanding Opportunities to Refinance Subprime Mortgages
Government Purchases of Subprime Mortgages
1. Characteristics of Various Policies as Short-Term Economic Stimulus
1. Changes in the Unemployment Rate
2. Growth of Real Personal Consumption Expenditures
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