On the recordJune 2, 2009
So if you raise taxes during a recession, you probably want to offset it with a tax cut elsewhere, for example.
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congress.govSo if you raise taxes during a recession, you probably want to offset it with a tax cut elsewhere, for example.
Bernanke advises balancing tax increases with cuts to avoid harming the economy.
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A significant portion of this effect is related to the automatic spending sequestration that is scheduled to begin on March 1st.