Sunday, August 2, 2009

Obama Says U.S. Has ‘Many More Months’ Before Full Recovery

Yes, because he has done nothing to restore incomes, except those of Wall Street bankers. A large payroll tax cut or some other tax reduction (corporate tax reduction) would help enormously to restore demand and get the economy growing again. The only reason incomes have not fallen even further during his term so far is because of the "automatic stabilizers" kicking in. (Unemployment insurance, Medicare, Medicaid, Social Security and other transfer payments.)

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