Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-081-000"
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"en.20111013.4.4-081-000"2
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"Madam President, whilst I have doubts about the effectiveness of the American jobs bill – if it is enacted – it is heartening that the President understands the problem, if not the solution. President Obama, in his press conference announcing the bill, summed up the problem succinctly. In Maine, there is a bridge that is in bad shape, with bits falling off it. Meanwhile, there are millions of laid-off construction workers who could be busy rebuilding roads, bridges and schools. We nationalists have a saying: ‘whatever is physically possible must be financially possible. If it is not, the financial system is at fault’.
Any reflationary injection must be spent into circulation and must not be credit-created by the banks and lent into circulation. The problem with all such reflationary measures is that injections of money precede – sometimes by years – the resulting increase in GDP and are therefore inflationary. This effect might be reduced by partly deferred payments to recipients of reflationary spending."@en1
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