Discuss the use of aggressive expansionary fiscal policy to stimulate the macroeconomy. When does this type of policy move work the most effectively? Under what conditions – both in terms of macroeconomic fundamentals and in terms of political institutions – is an expansionary fiscal policy likely to yield counterproductive and even destructive results? Describe these negative outcomes and why they create long-run problems for society. Should Congress admit that it is addicted to irresponsible over-spending and turn its legal political authority for making big new discretionary fiscal policy moves over to an independent Federal Budget Authority?