In the wake of the midterm elections, one thing is clear: It’s George Bush’s economy now. Republicans control the Congress, and the President can expect a green light for whatever fiscal prescription he proposes. First off, the President says he wants to make his 10-year tax cut, currently weighing in at $1.35 trillion, permanent.
These are days of growing deficits, investor anger, falling consumer confidence, and a time when interest rates are already as low as they can go.
Critics say that the old supply side scheme of tax cuts and trickle down doesn’t make sense. They say that government spending and investment are what the nation needs. So how to do it, how to jump-start, prime the pump how to help the economy. Searching for Stimulus.
Guests:
Stephen Moore, President, The Club for Growth
and Robert Reich, professor of economic and social policy at Brandeis University and former Secretary of Labor under President Clinton.