ANOTHER
ECONOMIC BIGFOOT
WEIGHS IN
MARTIN FELDSTEIN
"The Economy Is Worse Than You Think"
PHOTOGRAPHED IN WASHINGTON
WHEN FELDSTEIN WAS CHAIR
OF THE COUNCIL OF ECONOMIC ADVISERS
UNDER PRESIDENT REAGAN (1982-84)
Harvard economics professor Feldstein, who was named as one of President Obama's Economic Recovery Advisory Board advisors in February 2009, announced in a Wall Street Journal opinion piece today that "The policies of the Obama administration have led to the weak condition of the American economy."
Why have "individuals and businesses" not made "the entrepreneurial investments and business expansions that would cause a solid recovery"? Simple: Because Obama calls for higher tax rates on "upper income individuals and multinational corporations" (and never mind that he has already signed off on one extension of the Bush tax cuts).
For ALAN GREENSPAN'S (current) take
on the subject, see here
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