From Here on, the Unwinding of the Recovery Act Becomes a Significant Drag on the Economy

Paul Krugman sends us to Goldman Sachs and comments:

The gray line shows the direct impact, the blue line includes the induced “multiplier” effects. Notice that this shows the rate of change.... [T]he unwinding of the stimulus is a growing drag on growth. The GS economists warn that depending on how the budget battle plays out, things could be even worse.