by WARREN MOSLER
This alone could add maybe 2% to nominal GDP.
How much real output it adds is another question, of course:
Self-professed fiscal hawks in the House also opposed the bill. The nonpartisan Congressional Budget Office estimated Thursday that it would cost about $320 billion. Most of that would come in the first year.
The deal includes:
- A $165 billion increase in military spending;
- A $131 billion boost to domestic program spending;
- Nearly $90 billion in funding for disaster relief efforts in Texas, Florida and Puerto Rico;
- Two years of funding for community health centers;
- Another four-year extension of the Children’s Health Insurance Program, for a total of a decade;
- Funding for existing infrastructure programs related to transportation, drinking water and broadband.
Up again. And it’s looking like may have triggered a Saudi price cut: