Remphoto
07-09-2010, 08:43 AM
Wonders of wonders, the Washington Post is beginning to pile on to BHO's failed economic policies. Several recent articles have seriously questioned
Obama policies. "What Recovery?" a front-page Post story warned that the economic recovery is being driven by a return to the global imbalances that were a major cause of the crisis in the first place.
Then there is this op-ed:
By Amity Shlaes
Friday, July 9, 2010
With unemployment high and the Dow Jones industrial average bumping about, the big debate this summer is how to prevent a double-dip recession resembling that of the late 1930s. Some say Washington should spend more, arguing that government austerity triggered the collapse in 1937 that erased previous gains. Others say that cutting spending now will strengthen the economy generally and preclude dramatic downturns.
President Obama may be about to repeat Franklin D. Roosevelt's mistakes -- but not the ones captured in this narrow discussion.
By fixating on the debt and stimulus plans, Obama and Congress are overlooking challenges to the economy from taxes, employment and the entrepreneurial environment. President Roosevelt's great error was to ignore such factors -- and the result was that sickening double dip.
http://www.washingtonpost.com/wp-dyn/content/article/2010/07/08/AR2010070804272.html
Obama policies. "What Recovery?" a front-page Post story warned that the economic recovery is being driven by a return to the global imbalances that were a major cause of the crisis in the first place.
Then there is this op-ed:
By Amity Shlaes
Friday, July 9, 2010
With unemployment high and the Dow Jones industrial average bumping about, the big debate this summer is how to prevent a double-dip recession resembling that of the late 1930s. Some say Washington should spend more, arguing that government austerity triggered the collapse in 1937 that erased previous gains. Others say that cutting spending now will strengthen the economy generally and preclude dramatic downturns.
President Obama may be about to repeat Franklin D. Roosevelt's mistakes -- but not the ones captured in this narrow discussion.
By fixating on the debt and stimulus plans, Obama and Congress are overlooking challenges to the economy from taxes, employment and the entrepreneurial environment. President Roosevelt's great error was to ignore such factors -- and the result was that sickening double dip.
http://www.washingtonpost.com/wp-dyn/content/article/2010/07/08/AR2010070804272.html