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Five Compromises Obama Should Embrace to Boost the Economy If Republicans win the Senate, President Obama risks another bruising recession if he doesn’t embrace compromise and abandon ineffective populist prescriptions. Slower growth in Europe and emerging markets like China and Brazil threaten U.S. exports and demand for American-made products. At home, stock market volatility threatens consumer confidence and sales of autos, new homes and other big ticket items. Stimulus spending only temporarily boosts growth but permanently increases deficits. Specifically, before the financial crisis, the federal deficit was only $161 billion, but after five years of recovery it stands at $580 billion. Here are five things Obama could do with Republicans to boost growth. 1. Tax Reform 2. Patch Obamacare 3. Encourage the Fed to Normalize Interest Rates 4. Open up Offshore Oil and Gas Development 5. Level the Playing Field with China Article by Peter Morici Professor Peter Morici is a recognized expert on economic policy and international economics. He has lectured and offered executive programs at more than 100 institutions including Columbia University, the Harvard Business School and Oxford University. |
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I agree totally..... I would even add a few things...... Make additional funding to police social program to not only curb the current abuses, but to get the program back on track to help ONLY those the program is intended to help. Re-evaluate the use of refundable tax credit to pay non-tax payers additional money through the IRS. Either do away with the credits and put the money into a different method of dispersal, or increase the amount of documentation necessary to receive the credits through the IRS. .
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