10:05:24;15 Baucus: 10:05:24 meetign will come to order, Willa Cather wonce wrote, religion and art spring from the same root and are close kin, economics and art are strangers 10:05:46 continue our examination of economic stimulus and consider if we can find any artful solutions 10:06:00 the consensus is developing this stimulus needs to be timely, temporary 10:06:11 there are reports that a deal on the stimulus pkg are close on the House side, the Senate will want to speak also ***** 10:06:30 we will hold a markup Finance committee next week ***** 10:06:44 middle and lower income Americans could spend those rebates quickly 10:06:54 last week CBO said tax rebate checks could be very tax effective 10:07:10 we could provide a further extension for recipients in high unemployment states 10:07:25 receive unemiployment insurance 10:07:35 understand there may not be anything on unemmployment insurance in the House bill, that would be a mistake ** 10:07:52 keeping Americans employed is a very important 10:08:05 and get an immediate tax refund, a refund could provide cash 10:08:15 to temporarily deduct from their taxable income for investments 10:08:28 related to the hosuing sector, sill others .... so let us see whether there is any art in economics 10:08:46 and let us try to find those artful soltuions in the American economy 10:09:06 when he returns, probably later today, in getting ready for the markup 10:09:19 so thatnk you very much Dr. Feldstein and Dr. Furman / 10:10:01;15 Feldstein: 10:10:01 Thank you very much, thatnk you for your invitation to appear before this committee 10:10:17 let me just hit the highlights in the first part of my written testimony 10:10:26 first I think it’s generally agreed the economy is weak and it could get weaker, but I think ti's worth stressing that a recession is not inevitable ***** 10:10:47 for a slowdown thanks to the fact that services like health and educaiton play such a large part in our economy 10:11:03 and that's giv...
10:05:24;15 Baucus: 10:05:24 meetign will come to order, Willa Cather wonce wrote, religion and art...
