James Pethokoukis
Politics and policy from inside Washington
Economic growth makes the world a whole lot brighter
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My pal Larry Kudlow makes a point that shouldn’t need making during a terrible recession. But I guess it does:
On a related note, Washington is spending far too much time focusing on regulations right now. They’re not devoting nearly enough time to figuring out ways to truly grow our economy. It is a statist governmental approach. This great country of ours is thirsting for free-enterprise incentives and solutions. And as the latest polls show, Americans are becoming fed up with the out-of-control spending, borrowing, debt-creation, and tax increases.
What we need is serious economic growth. That is priority number one. What we need is risk-taking and entrepreneurship. Of course, we need transparent markets. But it is the growth message that is being overlooked.
My spin: Weak growth makes every economic problem look worse. Are bond price rising because of inflation fears or perhaps also default fears because of the combo of high debt and forecasts of wimpy U.S. growth going forward?
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I’m not usually a big fan of legislation by poll. However, this time it may be offering the President both a reality check and a way out.
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