by Bill McBride on 8/13/2011 10:46:00 PM
Saturday, August 13, 2011
This is depressing ...from the NY Times: White House Debates Fight on Economy
Mr. Obama’s senior adviser, David Plouffe, and his chief of staff, William M. Daley, want him to maintain a pragmatic strategy of appealing to independent voters by advocating ideas that can pass Congress, even if they may not have much economic impact. These include free trade agreements and improved patent protections for inventors.Tax incentives are the "bigger idea"? It sounds like the debate is between doing nothing and doing very little.
But others, including Gene Sperling, Mr. Obama’s chief economic adviser [argue] for bigger ideas like tax incentives for businesses that hire more workers ...
If I arrived on the scene today - with a 9.1% unemployment rate and about 4.6 million homes with seriously delinquent mortgages or REO - I'd be arguing for an aggressive policy response.
Posted by Bill McBride on 8/13/2011 10:46:00 PM