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and the obama stimulus was going to work it would have been a lot bigger. i think bernanke, obama did it. it was an ugly political process. we all know that. it wasn t big enough. bernanke realized that and introduced quantitative easing which he did three times. that made all the difference. you like what bernanke did. that is great. i like what obama did. you are against the minimum wage. not a growth policy. against unemployment insurance. you are against roads and bridges, investment. i am going on roads and bridges on the way home. a lot of stuff i agree with the president when he said [ inaudible ] $1.2 trillion worth of disaster. i agree with regard of easing
to have someone committed toward creating jobs, that s a great thing. secondly, you know, the fed has been trying to boost the economy. it s been positive, the easing policy. she might push it further. she might go to the japanese central bank to give firms more incentive to invest because they know they can sell their goods at a higher price in the future. at some point, we don t know when, there will be concerns about the economy and full employment. let the economy keep growing and the unemployment rate fall. in the 90s, alan greenspan raised rates in 93 or 94. later he reversed himself to his credit. i credit him for that. 4% unemployment at the end of
negotiating through the immediate were what is enough. what is not enough is decoupling the rates. letting what i believe in [ unintelligible ] the idea we are going to have a couple of years and then a big tax increase fuels more uncertainty that is not as bad as raising tabs in january. we want to get as much as we being. that s going to be a challenge. paul: let me ask you about the federal reserve. you know a lot about monetary policy and follows it. there s a debate over the latest easing policy including the dual mandate that says the fed has to keep stable money and promote full employment. i want to do away with the full employment mandate, why? i ve had a bill since 1999. there s one agency in charge of maintaining the value of our currency, federal reserve. what we need is sound and honest money, you are not getting that now, qe 2 isn t
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