Tuesday, October 4, 2011

"...if it weren't for the politicians, the economy would have a fighting chance."

The Economist explains how politicians are getting in the way of, rather than spurring on, a recovery:

"In America, the biggest policy-related threat is the fiscal tightening that will happen automatically in the next four months as prior stimulus expires and legislated cuts to discretionary spending bite. Barack Obama has proposed $447 billion in new or renewed stimulus to neutralise that threat, but it requires an ambitious deal in Congress’ super committee, and odds of such a deal by its November 23rd deadline are shrinking. Democrats are reportedly trying to get it to consider tax hikes immediately, and Republicans are apparently saying that puts a big deficit reduction deal out of reach."

Blue-collar Republican voters vote against their self-interest. It was only a matter of time before Republican politicians started doing the same. Old habits die hard, I guess.

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