"President Obama rightly stressed the need to restore our strength and prosperity at home: to create jobs, to rebuild infrastructure, to meet the challenges of energy and climate. In this he called us all to a “common purpose.” Will this vast task now get underway? Will a program follow? Will it dispel the deficit-and-debt doomsayers who degrade today’s economic debates?"Sadly, I doubt it. How can he do that and try to get more funds for his reelection from Wall Street (read more here)? Hope springs eternal.
Friday, June 24, 2011
Nation building
Jamie Galbraith compares Obama speech to JFK's American University speech (here). And then picks up Obama's preoccupation with Nation building at home and asks:
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It's highly improbable. The White House is already carefully shifting the economic narrative from fiscal expansion to deficit reduction as an economic-growth strategy. I now see why Bernstein and Goolsbee jumped the ship.
ReplyDeleteJared at least was an important inside force for reasonable policies. Goolsbee is a incognita.
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