Stanford economist Michael Boskin is not a fan of the Obama budget. In this morning’s Wall Street Journal, Boskin writes:
But what is not just worrisome but dangerous are the growing trillion dollar deficits in the latter years of the Obama budget. These deficits are so large for a prosperous nation in peacetime -- three times safe levels -- that they would cause the debt burden to soar toward banana republic levels. That's a recipe for a permanent drag on growth and serious pressure on the Federal Reserve to inflate, not the new era of rising prosperity that Mr. Obama and his advisers foresee.
Stagflation - sounds like the 70’s all over again. Read the whole thing here.
Friday, April 3, 2009
Subscribe to:
Post Comments (Atom)
4 comments:
When looking ahead to the future he is crafting in the name of "Hope", it may well be a long, wandering path that we citizens must walk to regain our way of life, our wealth, perhaps even our nation. I am copyrighting the title for the book I'll write if that comes to pass and I am still around to write it (and there is still a free press): "The Oddysey of Hope"
sorry, didn't mean to submit that anonymously. just hit the wrong box.
That's fine Mudge, it made you sound more mysterious...
GG
Great. At my age, calling me mysterious just makes me sound creepy.
Post a Comment