Gregg Easterbrook (Reuters)—It’s time for Obama to stop declaring new Economic Recovery Plans

Posted by Kendall Harmon

Pundits are restless, an election looms – so this week, President Barack Obama is proposing yet another round of special favors, aimed at improving the economy. Prominent columnist Paul Krugman wants the plans to be “bold” and to involve huge amounts of money. Here’s a contrasting view: government should stop declaring recovery plans, bold or otherwise.

Maybe the constant announcing of new plans – especially plans backed by borrowing or tax cuts – is, itself, an impediment to economic growth.

Read it all.

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Credit Markets • Housing/Real Estate Market • Labor/Labor Unions/Labor Market • The 2009 Obama Administration Bank Bailout Plan • The 2009 Obama Administration Housing Amelioration Plan • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The Fiscal Stimulus Package of 2009 • The Possibility of a Bailout for the U.S. Auto Industry • The September 2008 Proposed Henry Paulson 700 Billion Bailout Package • The U.S. Government • Budget • The National Deficit • Treasury Secretary Timothy Geithner • Politics in General • Office of the President • President Barack Obama

3 Comments
Posted September 8, 2010 at 5:01 am [Printer Friendly] [Print w/ comments]



1. Br. Michael wrote:

It’s the old Chicago tradition.  The best way to win an election is to buy it.

September 8, 7:14 am | [comment link]
2. Dan Crawford wrote:

Actually, we need another war complete with draft and rationing. It worked sixty years ago. Republicans have all the tools necessary to engineer one - their problem is they believe that since they would accompany their declaration of war with tax cuts, the tooth fairy would provide the necessary trillions to wage the war and staff the off-shore prisons.

September 8, 7:19 am | [comment link]
3. Cole wrote:

“Tooth Fairy”??  This whole statement comes from the imagination.  Were FDR and LBJ Republicans?  Where is the link?  I know.  GWB was not a progressive and made it his top priority to prevent another devastating attack on the US.  That is why the mainstream media demonizes him.

New wealth is only available if it is created, and not from just redistribution.  I think that concept could be taught even to someone in grade school.  We will only turn this economy around when the producers of wealth feel it is safe and profitable to reinvest their money in capital equipment and the labor to work it.

September 8, 11:48 am | [comment link]
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