like getting lied to about what is best for U.S.
While we do not agree very often with Feldstein, this time he IS "politically, economically correct".
We cannot grow our way out of this economic mess...
and especially NOT by cutting taxes.
What we CAN do...
about the short term mess AND about the long term deficit problem
is return some, or many, or even most of the WBush tax cuts to the preW levels.
Said Martin Feldstein:
No single policy change could do as much to limit the future deficits and the national debt,"
We were oft told: "If it ain't broke, don't fix it."
WBush broke it..., and didn't fix it.
We must.
Not only does your retirement funding and health care require it.
But, the willingness of others to loan U.S. money is running dry.
China's ability is down by 80%
The Gulf oil states ability is down by 50%
Europe's ability is totally gone, internalized, as in Greased...
Oddly, most very oddly, by doing NOTHING...
the Congress will solve the problem for U.S.
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last week conservative economist Martin Feldstein, who was President Reagan's top economic adviser, said in a Wall Street Journal editorial that while he favors temporarily extending the cuts for everyone, the country can't afford to make them permanent.
"Changing the Obama budget proposal to limit all tax cuts to two years
would reduce the total deficits over the next decade by more than $2 trillion.
No single policy change could do as much to limit the future deficits and the national debt,"
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