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1 of 5 DEFICIT FUELED CASH TRANSFERS COULD BACKFIRE: President-elect Joe Biden said Friday he is putting together a multitrillion-dollar package that would boost direct stimulus to $2,000, a central promise of the Georgia Senate runoff elections. Fulfilling that promise comes with $400 billion price tag. Even before the plan is finalised, sceptics are questioning the consequences of debt fueled stimulus. New research examining the impact of stimulus during the recession in 2008 by Boston University and Brown University economists showed higher direct cash transfers over a longer period boosted savings rather than spending, undermining its very objective. One need not be surprised if more voices of doubts are heard on the efficacy of deficit-fueled spending from the academia and politicians in the days ahead. [COMMENT BY: Babu Das Augustine, Business Editor]