The Yahoo! Finance article ROMER: Europe Is A Train-Wreck And Leaders Are Still In Denial, has Christina Romer saying things I can believe.
For the first time in a long time a reporter asks the obvious question. After Romer’s going on and on about how Europe needs to do the things they obviously must do, and just after I thought, “So what is it they must do?”, the reporter asks that very question. They never asks those obvious questions on most of the news or business shows on the lame stream media.
Yes, she did say stimulus first and then phase in Bowles-Simpson after the economy recovers. She said pass the legislation now to prove we can do it, but don’t have the austerity during the recession.
I am willing to listen to reigning in entitlements after we first raise taxes back to where they should be, the economy recovers, and then we see where we are.
If at that time, we still cannot figure out anything better to do, I might consider a conversation about entitlements relative to all the other possibilities.
Given the level of trust I have in Republican’s, the tax increases must come first before we can negotiate any entitlement cuts.
Yes, those guys asked the right questions and took enough time, unlike much of the lamestream media (thank Sarah Palin for that word?). But in the end Romer says Bowles-Simpson is the way to go, not all at once to be sure, but the way to go. Did she say Bowles-Simpson PLUS additional stimulus? I don’t remember. In any case, this is all a pipe dream because Mitch McConnell will never let any of this happen.