Tuesday, July 7, 2009
Obama Adviser Says U.S. Should Mull Second Stimulus
The thinking is starting to come around, albeit slowly. There is a growing realization that not enough money was spent quick enough. More must be done. Political pressure is growing on Obama now that unemployment has hit 26-year highs. Hopefully, it could shelve deficit fears for a while. Laura Tyson's remarks suggest this is happening. So do Biden's. On a side note, Biden should get rid of his economic adviser, Jared Bernstein. I had him on my radio show several times and he is a Democrat who is also a "deficit terrorist." Useless!
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3 comments:
maybe obama and his advisors have been lost in thinking that they can play it like the 1990's with clintonian economic policy - cheap commodities, strong dollar and balanced budget with surplus.
forget the surplus, commodities are cheap now by deflation spiral, and stop making the dollar weak with these inane republican'ts
i am surprised that the deficit hawk & pro-exporters don't get together and see that deficit spending will promote exports by weakening the dollar.
now we don't want a weak dollar but the relationship exists
The Clinton balanced budget--something that we are still suffering from. Led to a collapse in private savings and the end of a great bull market. Thank Dick Morris for that!
My question to that would be :
How does the dot com era of the late 90's work into the balanced budget of same time period ?
If the Fed/Tsy/Gov were pulling money out of the system by balancing the budget, then the dot com bubble reacted to that or did the dot com bubble act with it to create the dot com implosion ?
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