US Leaders are Failing Us: Coral Gables will Pay Dearly
August 30, 2010 Leave a comment
Coral Gables will be affected directly and indirectly by the failure of economic policy leadership in the Congress and the Administration. A small stimulus package is what is needed now for the US and the world economy.
The US recovery is stalling. As a matter of economics the balance of risks strongly favours further fiscal and monetary stimulus. Politics appears to rule out the first, and a divided Federal Reserve is hesitating over the second. America’s leaders are letting the country down.
Unlike most other advanced economies, the US could undertake further fiscal stimulus at acceptably low risk. Global appetite for its debt is undiminished. The risk, such as it is, could be all but eliminated if Congress could commit itself to stimulus now, restraint later – an easy thing, you might suppose, but evidently beyond its grasp. The administration could and should be pushing for just such a package, but it is not.