James Pethokoukis

Politics and policy from inside Washington

Obama will do ‘whatever it takes’ to boost the economy? Really?

July 2, 2009

On CNBC today, WH economist Christina Romer said the president is committed to “doing whatever it takes” to turn around the economy. And she did not rule out a second stimulus plan. Yet the president will not cut corporate taxes or investment taxes — ¬†even temporarily much less in a permanent way that would boost confidence and certainty. I think the WH believes it can pretty much ride this out, 2012 being a long way a way and Dems have structural advantages in 2010.

Comments

For real.

Time for the Administration to “man up” and take a play from the other side’s Playbook.

If Obama really is about bipartisanship and being solutions-oriented as he claims, it’s time for some new tricks.

Or will he hold the party line by doing the same thing over and over again and expecting different results.

Posted by Bryan X | Report as abusive
 

By all means, let us give the ones who smashed the economy into the ground a big fat tax cut. Perhaps they will be able to afford to send more jobs overseas. You said yesterday that tax cuts would not work to stimulate the economy. The stim that everyone rails about, the $787B, was $288B personal and business tax cuts.

Posted by carole | Report as abusive
 

We have yet to see the full thrust of the coming tax increases. Nearly every community and every state is suffering from reduced receipts; and most think the way to solve it is to raise tax rates – not just on companies but individuals.

Add in the forthcoming forceplaced healthcare expenditures, the proposed cap’n trade, the probable VAT, the bailout of the bailouts, the stimulating of too big to fail, the explosion of money supply – we’re headed to a perfect storm.

Thank the CURRENT ADMINISTRATION AND CONGRESS for spending us down this hole which may have no bottom but hyperinflation from which echos Christina Romer’s voice saying, “we’re doing what’s necessary….sorry China, I know we promised, but we’re monetizing the debt because we’re just too big to fail.”

After someone has to bailout California.

Posted by Hank Reardon | Report as abusive
 

“Taxes are not levied for the benefit of the taxed.”
-Robert A. Heinlein in ‘Time Enough for Love’

 

so the President is going to do whatever to get the economy to move along…well why doesn’t he slow down and stop pushing his very expensive agenda

 

So Obama says he will do whatever it takes to turn the economy around …. well, he could start by -
1. Getting rid of Pelosi
2. Getting rid of Reid
3. Getting rid of Biden
4. Firing all the Czars he’s put in place
5. Dump his cabinet (especially Geithner), and then
6. Resigning

Maybe then we could get someone who knows how to handle
economic matters to run the U.S.

Posted by Sittin-n-Saudi | Report as abusive
 

I think he should stop and take a look. He is going to have to make it worthwile to grow new jobs at home and to stop the outsourcing. We all know that except the companies that outsourced everything. Those companies are scheduled for a big hit from multiple directions.
Hope Obama does well and hope the people love him. We need a good President.

Posted by f belz | Report as abusive
 

Tax levels have nothing to do with confidence, just as raising taxes on “greedy rich folks” doesn’t improve the lot of the poor. The bumper sticker slogans get tired after um…decades.

There’s no confidence because the economy is in the tank. Investment will start when businesses see a return on the investment. Period.

Anything else is the same tired bull to justify a tax break/increase, and the sooner we stop playing the same tired games, the sooner we’ll start to correct the systematic damage done by the entrenched two party circus (and the folks riding coattails through manipulation and campaign financing).

Both parties need to stop using props to hide behind (minorities, flags, bibles, etc.) and become the concerned, patriotic citizens they claim to be before you sink us all.

Posted by Brian Foulkrod | Report as abusive
 

Obama has no clue what it takes to stimulate the economy. The gumint is too involved with the private sector, it needs to back off and let the much needed correction take place. The excesses of the past decade or two were always unsustainable, trying to bring back the situation that caused the problem is the wrong thing to do and will certainly fail anyway. The private sector can solve the problem faster and better than any bunch of politicians ever could. Obama will never admit that or allow it to happen. The gumint is too big, too invasive and too far in debt already. Borrowing and spending more money can only make it worse.

db

Posted by teotwawhki | Report as abusive
 

Reaganomics got the nation back on its feet during the 80s, it might be time to look and see what was done then to fix the problems now. Also, hmmm…lawmakers need to start reading the bills they’re sending to our president. Honestly, get rid of all of the incumbents in Congress, and get new people, these twits have continually put their own welfare over that of their constituents.

Posted by Morgan | Report as abusive
 

So people REALLY want the Republicans back? Are they insane or simply unconscious? The best thing for this country would be for Bush to have been the last Replublican President and a new, non-religious alternative Party formed that is not dedicated to selecting the next country to invade. And one that cares about the people who put them in office.

Taxes, shmaxes. If they want to take from you, they will. You can do NOTHING about it other than to limit interests hostile to you from power. They call it “democracy” and we do not have it. Less every year.

Posted by Texas Mike | Report as abusive
 

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