That is, we have to end those policies that have lowered tax revenues and limited government spending for too long. They have literally been counter-productive, and hobbled economic growth.
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Now that the Fed has begun to reduce its QE3 securities' purchases $10B per month in January, what will that do for growth? My answer is it's too soo...
It is very basic economics 101. Just cutting spending doesn't reduce debt without also investing in future growth.
It's not hard to see why we need "QE3," the Fed's bond buying program to keep long term interest rates low. The Fed is the only game in town able to stimulate growth at the moment, when we are teetering on the edge of several 'fiscal cliffs.'
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