09.19.11

Repivoting

Posted in General Musings, Politics and Policy at 7:01 am

Obama’s “pivot to jobs” was amazingly short – roughly one week in duration.  Apparently, we’ve now returned to deficit reduction as the primary focus, with the President unveiling his new millionaire’s tax proposal.  This is absurd.  Deficit reduction is not the most important issue facing the country right now.   In fact, it should be pretty close to the bottom of the list of priorities. When the economy has been growing at a rate >3% per year for at least two years AND unemployment is below 6% and, then we can focus on deficit reduction.   Although I have a hunch that once we reach that point, there won’t be much to talk about since most of the deficit “problem” will have resolved itself.  As of right now though, it’s a distraction, and anything we do to reduce the deficit will make the economy WORSE.

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