Saturday, August 21, 2010

Hey Rahm, About Those Tax Cuts...

In a Washington Post comparison of the Carter-Reagan and Bush-Obama recessions, we learn why some experts think Obama's 2012 economy might not look as rosy as Reagan's in 1984:

[R]ecessions caused by financial crises linger longer because of the shattered confidence of both consumers and businesses. [The Congressional Budget Office] went on to state, "In addition, under current law, both the waning of fiscal stimulus and the scheduled increases in taxes will temporarily subtract from growth, especially in 2011."

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