--- title: "Meaning & Key Takeaway of: Gradual fiscal consolidation may also be…" description: "\"Gradual fiscal consolidation may also be stimulative in the short run.\" — Glenn Hubbard" image: "https://sms4smile.com/quotes/i/c11/glenn-hubbard-31613_also_gradual-fiscal-consolidation-may-also-be_3115569.jpg" --- # Gradual fiscal consolidation may also be stimulative in… ![“Gradual fiscal consolidation may also be stimulative in the short run.” quote by Glenn Hubbard](https://sms4smile.com/quotes/i/c11/glenn-hubbard-31613_also_gradual-fiscal-consolidation-may-also-be_3115569.jpg) [Download](https://sms4smile.com/quotes/i/c11/glenn-hubbard-31613_also_gradual-fiscal-consolidation-may-also-be_3115569.jpg) [Open image](https://sms4smile.com/quotes/i/c11/glenn-hubbard-31613_also_gradual-fiscal-consolidation-may-also-be_3115569.jpg) > “Gradual fiscal consolidation may also be stimulative in the short run.” [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. A gradual reduction of government deficits can boost economic activity temporarily by increasing confidence and spending. **In simple terms:** Slow deficit cuts can spur short‑term growth. Key Takeaway Implement measured fiscal tightening. Themes fiscal policy macroeconomics stimulus budgeting Mood optimistic analytical Type policy economic When to use this quote - budget planning - policy design - public finance - economic forecasting Key Concepts crowding in confidence effects multiplier Questions to Reflect On - What balance of speed and size yields optimal growth? - How does confidence translate into spending? A Different Perspective If cuts are too slow, inflation may rise and debt may not fall quickly enough. ★ ★ ★ ★ ★ No ratings yet [Taxes](https://sms4smile.com/quotes/about/taxes/) ## Related quotes > [It is important for India to stay the course on fiscal consolidation.](https://sms4smile.com/quotes/gita-gopinath/it-is-important-for-india-to-stay-the-course-on-fiscal-consolidation/) [Gita Gopinath](https://sms4smile.com/quotes/author/gita-gopinath/) > [I am personally convinced - and I think the Greek people share this belief in a fundamental way - that we can achieve fiscal…](https://sms4smile.com/quotes/lucas-papademos/i-am-personally-convinced-and-i-think-the-greek-people-share-this/) [Lucas Papademos](https://sms4smile.com/quotes/author/lucas-papademos/) > [The government is determined to continue the process of fiscal consolidation and structural reform in order to secure sound public finances and improve the…](https://sms4smile.com/quotes/lucas-papademos/the-government-is-determined-to-continue-the-process-of-fiscal/) [Lucas Papademos](https://sms4smile.com/quotes/author/lucas-papademos/) > [As we pursue a smaller government, fiscal consolidation will need to deepen. And, mindful of the fiscal balance as we always are, we know…](https://sms4smile.com/quotes/javier-milei/as-we-pursue-a-smaller-government-fiscal-consolidation-will-need-to/) [Javier Milei](https://sms4smile.com/quotes/author/javier-milei/) > [Colombians! My last wish is for the happiness of the patria. If my death contributes to the end of partisanship and the consolidation of…](https://sms4smile.com/quotes/simon-bolivar/colombians-my-last-wish-is-for-the-happiness-of-the-patria-if-my/) [Simon Bolivar](https://sms4smile.com/quotes/author/simon-bolivar/) > [Economic globalization creates wealth, but only for the elite who benefit from the surge of consolidations, mergers, global scale technology, and financial activity.](https://sms4smile.com/quotes/anita-roddick/economic-globalization-creates-wealth-but-only-for-the-elite-who/) [Anita Roddick](https://sms4smile.com/quotes/author/anita-roddick/) > [Just as important as getting enough sleep is thinking about sleep in the right way. Stop thinking of sleep and naps as “downtime” or…](https://sms4smile.com/quotes/richard-restak/just-as-important-as-getting-enough-sleep-is-thinking-about-sleep-in/) [Richard Restak](https://sms4smile.com/quotes/author/richard-restak/) > [I talked about the consolidation of power in the hands of the corporate bureaucracy, as distinct from the stockholders. To this view, I still…](https://sms4smile.com/quotes/john-kenneth-galbraith/i-talked-about-the-consolidation-of-power-in-the-hands-of-the/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [When we feel an obligation to test the things we say and to find the boundaries within which what we say has validity, then…](https://sms4smile.com/quotes/rudolf-steiner/when-we-feel-an-obligation-to-test-the-things-we-say-and-to-find-the/) [Rudolf Steiner](https://sms4smile.com/quotes/author/rudolf-steiner/) > [With autonomous cars, you're gonna see more consolidation. Once we have transport modules, you order off the phone and brands won't matter anymore. When…](https://sms4smile.com/quotes/bob-lutz/with-autonomous-cars-you-re-gonna-see-more-consolidation-once-we-have/) [Bob Lutz](https://sms4smile.com/quotes/author/bob-lutz/) > [Consolidation in the skiing equipment industry cannot be allowed to lead to higher prices, lower quality or less innovative products,](https://sms4smile.com/quotes/neelie-kroes/consolidation-in-the-skiing-equipment-industry-cannot-be-allowed-to/) [Neelie Kroes](https://sms4smile.com/quotes/author/neelie-kroes/) > [But as the plan of the convention aims only at a partial union or consolidation, the State governments would clearly retain all the rights…](https://sms4smile.com/quotes/alexander-hamilton/but-as-the-plan-of-the-convention-aims-only-at-a-partial-union-or/) [Alexander Hamilton](https://sms4smile.com/quotes/author/alexander-hamilton/) > [Every industry, as it comes to a certain level of maturity, there is consolidation. In that consolidation, some fall, but the men will always…](https://sms4smile.com/quotes/arundhati-bhattacharya/every-industry-as-it-comes-to-a-certain-level-of-maturity-there-is/) [Arundhati Bhattacharya](https://sms4smile.com/quotes/author/arundhati-bhattacharya/) > [“consolidation, coupled with a desire among the survivors to restore normal profit levels, helps to usher in an era of orderly competition based on…](https://sms4smile.com/quotes/greg-thain/consolidation-coupled-with-a-desire-among-the-survivors-to-restore/) [Greg Thain](https://sms4smile.com/quotes/author/greg-thain/) > [The effect of the discovery of printing was evident in the savage religious wars of the sixteenth and seventeenth centuries. Application of power to…](https://sms4smile.com/quotes/harold-innis/the-effect-of-the-discovery-of-printing-was-evident-in-the-savage/) [Harold Innis](https://sms4smile.com/quotes/author/harold-innis/) ## More by Glenn Hubbard > [The Obama administration's attempted short-term fixes, even with unprecedented monetary easing by the Federal Reserve, produced average GDP growth of just 2.2% over the…](https://sms4smile.com/quotes/glenn-hubbard/the-obama-administration-s-attempted-short-term-fixes-even-with/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [The Obama administration's large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business…](https://sms4smile.com/quotes/glenn-hubbard/the-obama-administration-s-large-and-sustained-increases-in-debt/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [I don't accept as an article of faith that lots of short-term stimulus boosts the economy and gets us back on the long-term trajectory.](https://sms4smile.com/quotes/glenn-hubbard/i-don-t-accept-as-an-article-of-faith-that-lots-of-short-term/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [I don't expect the U.S. and China to get into a trade war simply because I think there are good people on both sides…](https://sms4smile.com/quotes/glenn-hubbard/i-don-t-expect-the-u-s-and-china-to-get-into-a-trade-war-simply/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [I think Governor Romney has a two-part budget plan that very much levels with voters far more so than any candidate in my lifetime.](https://sms4smile.com/quotes/glenn-hubbard/i-think-governor-romney-has-a-two-part-budget-plan-that-very-much/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [In response to the recession, the Obama administration chose to emphasize costly, short-term fixes - ineffective stimulus programs, myriad housing programs that went nowhere,…](https://sms4smile.com/quotes/glenn-hubbard/in-response-to-the-recession-the-obama-administration-chose-to/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [The real issue for the public is to figure out which narrative do we want. We can have a bigger government, if that's the…](https://sms4smile.com/quotes/glenn-hubbard/the-real-issue-for-the-public-is-to-figure-out-which-narrative-do-we/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [President Obama has ignored or dismissed proposals that would address our anti-competitive tax code and unsustainable trajectory of federal debt - including his own…](https://sms4smile.com/quotes/glenn-hubbard/president-obama-has-ignored-or-dismissed-proposals-that-would-address/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [What Governor Romney is proposing is an across-the-board cut in marginal tax rates for households, every household in America by 20 percent. And we'll…](https://sms4smile.com/quotes/glenn-hubbard/what-governor-romney-is-proposing-is-an-across-the-board-cut-in/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [President Obama has basically avoided or not done any attempt to intervene in any positive way in the housing market. I think in the…](https://sms4smile.com/quotes/glenn-hubbard/president-obama-has-basically-avoided-or-not-done-any-attempt-to/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [I think the ethos for Gov. Romney is to use a whole variety of policies, of which tax policy is one, to try to…](https://sms4smile.com/quotes/glenn-hubbard/i-think-the-ethos-for-gov-romney-is-to-use-a-whole-variety-of/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [I can't imagine an argument that says that raising marginal tax rates on high income people, many of whom are business owners, is a…](https://sms4smile.com/quotes/glenn-hubbard/i-can-t-imagine-an-argument-that-says-that-raising-marginal-tax-rates/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [To me, entrepreneurship means something different. I think of it as identifying and valuing opportunity.](https://sms4smile.com/quotes/glenn-hubbard/to-me-entrepreneurship-means-something-different-i-think-of-it-as/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [I can't give political advice to politicians.](https://sms4smile.com/quotes/glenn-hubbard/i-can-t-give-political-advice-to-politicians/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [We pursued the wrong policies. George Bush is not on the ballot. Bill Clinton is not on the ballot. Mitt Romney is on the…](https://sms4smile.com/quotes/glenn-hubbard/we-pursued-the-wrong-policies-george-bush-is-not-on-the-ballot-bill/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) [Explore all 16 Glenn Hubbard quotes ](https://sms4smile.com/quotes/author/glenn-hubbard/) ## More Also quotes > [I'm a workaholic, but I also like to vacation.](https://sms4smile.com/quotes/karrueche-tran/i-m-a-workaholic-but-i-also-like-to-vacation/) [Karrueche Tran](https://sms4smile.com/quotes/author/karrueche-tran/) > [I've also directed, shot, and edited several music videos.](https://sms4smile.com/quotes/richard-king/i-ve-also-directed-shot-and-edited-several-music-videos/) [Richard King](https://sms4smile.com/quotes/author/richard-king/) > [Movies have power. Power to impact society and the choices we make. I want to entertain, but I also want to say something to…](https://sms4smile.com/quotes/gina-prince-bythewood/movies-have-power-power-to-impact-society-and-the-choices-we-make-i/) [Gina Prince-Bythewood](https://sms4smile.com/quotes/author/gina-prince-bythewood/) > [I'm not against gay people. I have a relative who is also gay. We can't help it if they were born that way.](https://sms4smile.com/quotes/manny-pacquiao/i-m-not-against-gay-people-i-have-a-relative-who-is-also-gay-we-can-t/) [Manny Pacquiao](https://sms4smile.com/quotes/author/manny-pacquiao/) > [I want to make myself and the crowd happy by way of something different, and that makes things difficult. I'm never playing something that…](https://sms4smile.com/quotes/tiesto/i-want-to-make-myself-and-the-crowd-happy-by-way-of-something/) [Tiesto](https://sms4smile.com/quotes/author/tiesto/) > [My parents are divorced, and seeing that was really painful for me. Really painful for me. But that's also a big part of why…](https://sms4smile.com/quotes/banks/my-parents-are-divorced-and-seeing-that-was-really-painful-for-me/) [Banks](https://sms4smile.com/quotes/author/banks/) > [With all the technology we're inventing and what they're coming up with scientifically, people are having longer lifetimes. It's scary, but in the same…](https://sms4smile.com/quotes/brittany-murphy/with-all-the-technology-we-re-inventing-and-what-they-re-coming-up/) [Brittany Murphy](https://sms4smile.com/quotes/author/brittany-murphy/) > [I like 'The Usual Suspects'. Great film. I also like 'Scarface', films like that. Lots of gangster films. I really like watching all kinds…](https://sms4smile.com/quotes/barkhad-abdi/i-like-the-usual-suspects-great-film-i-also-like-scarface-films-like/) [Barkhad Abdi](https://sms4smile.com/quotes/author/barkhad-abdi/) > [I'm in 'Madagascar 2.' I'm Testy the Lion. The franchise moves to Africa, and Bernie Mac is also in the film. I loved working…](https://sms4smile.com/quotes/tom-lister-jr/i-m-in-madagascar-2-i-m-testy-the-lion-the-franchise-moves-to-africa/) [Tom Lister, Jr](https://sms4smile.com/quotes/author/tom-lister-jr/) > [I was born with a silver microphone in my mouth, and that was an advantage. My father wrote books and was also a great…](https://sms4smile.com/quotes/jonathan-dimbleby/i-was-born-with-a-silver-microphone-in-my-mouth-and-that-was-an/) [Jonathan Dimbleby](https://sms4smile.com/quotes/author/jonathan-dimbleby/) > [I always like to look for adventure when I go away. I have gone on several horse adventures with my wife - from Guangxi…](https://sms4smile.com/quotes/antony-gormley/i-always-like-to-look-for-adventure-when-i-go-away-i-have-gone-on/) [Antony Gormley](https://sms4smile.com/quotes/author/antony-gormley/) > [It's important for American soldiers to be culturally sensitive when deployed in foreign countries. But it's just as important for the U.S. never to…](https://sms4smile.com/quotes/gary-bauer/it-s-important-for-american-soldiers-to-be-culturally-sensitive-when/) [Gary Bauer](https://sms4smile.com/quotes/author/gary-bauer/) > [It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like…](https://sms4smile.com/quotes/dan-ariely/it-is-true-that-from-a-behavioral-economics-perspective-we-are/) [Dan Ariely](https://sms4smile.com/quotes/author/dan-ariely/) > [Especially for those of us who lived in single cells, you had the time to sit down and think, and we discovered that sitting…](https://sms4smile.com/quotes/nelson-mandela/especially-for-those-of-us-who-lived-in-single-cells-you-had-the-time/) [Nelson Mandela](https://sms4smile.com/quotes/author/nelson-mandela/) > [I like men who are very cool but who are also so brilliant that they are almost insane. Sean Penn, Gary Oldman, Bob Dylan,…](https://sms4smile.com/quotes/jolene-blalock/i-like-men-who-are-very-cool-but-who-are-also-so-brilliant-that-they/) [Jolene Blalock](https://sms4smile.com/quotes/author/jolene-blalock/) Browse all 3,822 Also quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Gradual fiscal consolidation may also be stimulative in the short run.", "creator": { "@type": "Person", "name": "Glenn Hubbard" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/glenn-hubbard/gradual-fiscal-consolidation-may-also-be-stimulative-in-the-short-run/", "about": { "@type": "Thing", "name": "Also" }, "@id": "https://sms4smile.com/quotes/glenn-hubbard/gradual-fiscal-consolidation-may-also-be-stimulative-in-the-short-run/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/c11/glenn-hubbard-31613_also_gradual-fiscal-consolidation-may-also-be_3115569.jpg", "contentUrl": "https://sms4smile.com/quotes/i/c11/glenn-hubbard-31613_also_gradual-fiscal-consolidation-may-also-be_3115569.jpg", "url": "https://sms4smile.com/quotes/i/c11/glenn-hubbard-31613_also_gradual-fiscal-consolidation-may-also-be_3115569.jpg", "width": 1080, "height": 1080, "caption": "“Gradual fiscal consolidation may also be stimulative in the short run.” — Glenn Hubbard", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Glenn Hubbard", "item": "https://sms4smile.com/quotes/author/glenn-hubbard/" }, { "@type": "ListItem", "position": 4, "name": "Gradual fiscal consolidation may also be...", "item": "https://sms4smile.com/quotes/glenn-hubbard/gradual-fiscal-consolidation-may-also-be-stimulative-in-the-short-run/" } ], "@id": "https://sms4smile.com/quotes/glenn-hubbard/gradual-fiscal-consolidation-may-also-be-stimulative-in-the-short-run/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```