A Bipartisan Way to Soften Recessions and Address Soaring Debt

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Automatic triggers can kick in when the economy falters — and when it booms.

NRPLUS MEMBER ARTICLE B uried underneath Washington’s stimulus gridlock are the outlines of a bipartisan deal that could both soften recessions and address soaring debt. The creation of new “stimulus triggers” that would automatically kick in whenever the economy falls into recession has been endorsed by House speaker Nancy Pelosi, liberal economists such as Jason Furman and Lawrence Summers, and columnists such as the Washington Post’s Catherine Rampell and Bloomberg’s Noah Smith. On the flip side, “deficit-reduction triggers” that would automatically kick in when the economy is booming have been supported by White House economists and bipartisan representatives of think tanks ranging from the

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