Thursday, April 7, 2011
In today's Yahoo Tech Ticker, the interviewer speaks with Obama's Former Counsel of Economic Advisers Chair, Christina Romer who is expressing her frustration over the 'suffering of real families'...
But here's what she believes, as stated in text accompanying the video interview...
-- "Romer recommends a payroll tax holiday for corporations - rather than workers. Because "firms respond to incentives", making it less expensive would encourage them to do more hiring."
~ Tax breaks to corporations? Really? I mean... Really? And no tax break to workers? How is this Not a "trickle down" economic policy a la Reagan/Bush Sr.? Ok, what's next Romer?
-- "It's a "mistake" for the Fed to end QE2 in June as planned, Romer continues. "The evidence is it's been very effective. I don't understand why we'd be dialing back that tool."
~ The Fed is spending over $2 Billion dollars A DAY and creating a stock market bubble intentionally that when it eventually bursts, will cause horrific damage to this economy- far worse than Dot.com and housing bubbles.. and this woman supports the continuance.. Uggg.. Certainly she knows a weak dollar causes "suffering of real families"- certainly she's not in favor of That... Is She?
-- "More controversially, Romer lauds QE for helping to weaken the dollar. A weaker dollar makes U.S. goods more competitive overseas, boosting exports and GDP growth, and ultimately hiring. While that's true, she seems to overlook the impact a weak dollar has on ordinary Americans in terms of falling buying power and punishment for savers and those living on fixed-incomes."
~ Couldn't have said it better...
So while I don't excuse Obama fully since he is the one that appoints morons who pretend empathy with working families like Romer, you can see how this Administration has constantly sided with Wall St. and big business in its economic policies.. all his economic advisers are Pushing the same selfish corporatist policies under the false guise of helping everyday Americans.
Posted by Susquehanna at Thursday, April 07, 2011