Not The Bold Leadership We've Been Waiting For
What Martin Wolf Said [--] Obama was too cautious in fearful times.
The bad decisions of January 2009 will cast a shadow on America for years, and quite possibly decades, to come. At this point, what more can those of us who feared this outcome, who tried desperately to get the White House to listen, say?
Indeed, we've said it all before, but it needs to be said again -- "The best hope for a short-term economic plan that can win bipartisan support is a tax cut[.]" Oy. Tax cuts won't get it done. We need to raise aggregate demand and job creation - through government spending. As Krugman also notes - "[P]olicy makers aren’t being let down by standard macro, they’re choosing to ignore it, making up new doctrines on the fly even though the world looks very much the way the textbooks say it should. And somehow, the new doctrines always give a reason not to take action."
Speaking for me only
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