On Jan 28, 2010, at 2:22 PM, Michael Pollak wrote:
> On Wed, 27 Jan 2010, Doug Henwood wrote:
>
>> Also, as Goldman Sachs (!) points out, a fiscal tightening of
>> 1.5-2.5% of GDP is baked in over the next few years even without
>> policy changes.
>
> Where exactly is that baked? That's enormous.
Expiration of the stimulus and Bush tax cuts, mainly.