Words. For Your Consideration...
"The agreement on the Bush tax cuts and unemployment benefits illustrates that Washington can tackle incremental issues. Lawmakers will undoubtedly agree to raise the debt ceiling and pass another federal budget to keep the government running.
But will this new divided government be able to make the major structural changes necessary for our economy to grow and prevent the fiscal crisis on the horizon?
...Washington must start by acknowledging that our society is overly geared toward consumption rather than savings and investment. This was a fundamental component of the 30-year leveraging cycle we just concluded...Our political leaders lecture Asian economies that they should consume more and save less to facilitate a global economic rebalancing - but they should also be working at home toward reorienting our society to savings and investment.
...we are facing a multi-year adjustment period, a "new normal" that many economists agree includes sustained high unemployment. The country needs bold economic leadership. It is time to stop allowing political pundits to chip away at courageous ideas with risk-averse incrementalism. Our country, economy and political system need a shot of adrenaline to spur action..."
No comments:
Post a Comment