Monday, January 11, 2010
Obama Said to Consider Fee on Banks to Trim Deficit
On the heels of an horrendous jobs report that showed that the economy is still cratering, this is what Obama comes up with: fees imposed on firms to reduce the deficit!
More fiscal drag when the economy is barely moving! It's insane!!
The focus on deficit reduction will almost surely put us back into recession.
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4 comments:
This is not just dumb, but desperately dumb. Is this garbage coming to him from someof his advisors?
Reagan subliminated all his massive spending with tax cuts and supply side smoke screens.
Obama doesn't know Reagan from a Raygun.
Cut taxes, spend like crazy and govern the flow of the dough with regulations which keep the crow in the mouths of the deficit hawks while the money blows in the sails of the U.S.A.
Mike,
He's surrounded by deficit hawks and they have hijacked policy. He believes them. He said the government is "out of money." Incredibly misguided statement.But it's also the electorate that is driving this. Most people believe what the deficit hawks are saying and to win votes it's better to accept the way people are and build a campaign around that.
-M
OK
I have a basic question - is Greece really in trouble with 12% deficit with respect to GDP since they cannot credit their banks with Euros or not ?
If not, I'd suspect it is due to the usual deficit hawks who want to pounce them with downgrades ...
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