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Freeze?



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He’s freezing the part of the budget that is not the problem and which makes little difference in regard to long-term fiscal imbalance. Also, I wonder whether as part of the freeze he is going to have OMB count repayments of TARP as “negative outlays.” If so, the freeze is no freeze at all, as traditional outlays may grow under the overall freeze in net outlays.   

 — Bob Stein is senior economist with First Trust Advisers.



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