Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Posts Tagged ‘Steny Hoyer’

Second Stimulus: Barack and a Hard Place

Posted by Larry Doyle on July 7th, 2009 1:50 PM |

Does the United States economy need a second Stimulus Package? Can we afford to do it? Can we afford not to do it? What happened to the first one? Why hasn’t that package seemed to have a greater impact?

So many questions and seemingly so few concrete answers. The White House itself is sending out mixed messages on this topic. Add it all up and there is little doubt the U.S. economy is “between Barack and a hard place,” and neither looks all that appealing.

From my standpoint, the reason why we are at this juncture is ultimately due to the fact that the government, media, and financial industry have not fully explained the basic structural changes at work in our economy currently. That structural change centers on the fact that our economy is adjusting from running on excessive debt to operating on real savings and cash flow generated by real earnings. That adjustment takes time.

Obama has largely painted himself into a corner in regard to the economy and another stimulus package. What is surrounding Barack and team?

> The Wall Street Journal reports House Majority Leader Hoyer Signals More Stimulus May Be Needed. Steny is not exactly going out on a limb here, while clearly trying to curry favor with his constituents back home.

> Bloomberg highlights that Obama Adviser Says U.S. Should Mull Second Stimulus:

The U.S. should consider drafting a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small,” said Laura Tyson, an outside adviser to President Barack Obama.

The current plan “will have a positive effect, but the real economy is a sicker patient,” Tyson said in a speech in Singapore today.

> The other side of the stimulus coin has real White House representation in the persons of Austan Goolsbee and Joe Biden, as Bloomberg reports:

Tyson’s comments contrast with remarks made two days ago by Vice President Joe Biden and fellow Obama adviser Austan Goolsbee, who said it was premature to discuss crafting another stimulus because the current measures have yet to fully take effect.

While Barack is catching it from all sides within his own party, the talk of green shoots has significantly subsided. From my standpoint, it seems rather obvious that the following are true: (more…)

Obamanomics: Conservative or Revolutionary?

Posted by Larry Doyle on March 16th, 2009 4:17 PM |

A loyal reader shared with me a recent posting from former Clinton Labor Secretary Robert Reich. Earlier today I cross posted a piece from No Quarter in which Reich was less than complimentary of Secretary Geithner. Well, let’s see what Mr. Reich has to say about President Obama’s economic program: Is Obamanomics Conservative or Revolutionary?

Prior to delving into my thoughts and commentary on Reich (or anybody), I always find it useful to consider the perspective of the writer. In regard to Mr. Reich, let us not forget that Robert Reich Excludes White Male Construction Workers from Obama Stimulus Plan. Utilizing that perspective, Mr. Reich would be considered to be more than slightly left of center. Additionally, in considering the Obama economic plans, I think it is critically important to incorporate the economic plans and agenda of the Democrats in Congress. These Congressional leaders have a major influence in this process. These Democrats, including David Obey (D-WI), Nancy Pelosi (D-CA), Harry Reid (D-NV), Barney Frank (D-MA), Chuck Schumer (D-NY), Chris Dodd (D-CT), and Steny Hoyer (D-MD) amongst others are major players in the stimulus, budget, and Omnibus bill that have come down from Congress. It is not totally clear where the lines are drawn between the White House and Congress on all the economic issues. That said, let’s see what Mr. Reich has to say and then critique his assessments of Obamanomics. (more…)






Recent Posts


ECONOMIC ALL-STARS


Archives