During the Great Recession of 2007-2009 GDP was at times contracting at a 6% rate. In a recession: During the Great Recession of 2007-2009 GDP was at times contracting at a 6% rate. In a recession: expansionary fiscal policy is countercyclical. contractionary fiscal policy is countercyclical. it is necessary for policy makers to wait for the economy to self correct. attempts by the government to move the economy closer to full employment are bound to be unsuccessful according to Keynesian economics