The idea in larrys revival of stagnation is that because Going Forward the returns to capital and Consumer Spending are likely to be weaker than theyve been in the past, that the real Interest Rate that is needed to provide full employment could be very, very low. And there are a lot of reasons as we see very low Interest Rates, and he talked about in his remarks to the association of business economics a number of reasons why the demand for capital and the demand for Consumer Spending might be unusually low Going Forward and the same ones that, essentially, you need very low Interest Rates to get the economy up to full employment. Slower growth both from population and and also from possibly slower technical change, also he notes and i think this is an interesting point that if you look at new Industries Like facebook on the one hand versus the industries that were dominant in the 50s and 60s like steel making obviously, facebook and Similar Companies have much smaller needs for capit
Constitutionally. So i dont think its merely that. And in suleiman the government actually created the words that were, that were being advertised. So isnt that substantially different . Because the governments not creating these words. Justice sotomayor the court indicated that thats the monument course. Im talking about johanns. Thats right. But in suleiman though, a private organizes fraternal order of eagles put its name on the monument it created the message, then donated it to the park. In johanns, yes, the message was espoused beef, its whats for dinner, but even then the secretary of agriculture didnt write ad copy. Sorry, the government had control, it just was not at every step of the way saying this is how the message must be. But at the end of the day, it had final approval. But to return to Justice Alitos hypothetical and what the test should be, the test can include other elements. And even if suleiman and johanns could be read as just a twopart test for all sorts of reas
Rather than supporting growth and i argued as chairman during that time that shortterm fiscal policy ought to be more attentive to the needs of recovery those concerned about fiscal sustainability should be in no long term framework but that fiscal policy of though whole ethic is even more of a burden on the fed to keep Interest Rates low to full employment you will get your answer. [laughter] but i could give fate fiscal recommendation. [laughter] fed is not beyond my scope. Can you talk about what to reduce the global imbalance to weaken the currency . What leverage and with those currency levels so for the following reason no chance it will be excepted. Oldfield the economists can tell the difference with the Exchange Rate and Monetary Policy have not sure a technical legal document could do that. And i dont think theres anything wrong with Monetary Policy. With the given economy even with the Exchange Rate. The with the perspective of the trade partners the exchangerate movements i
Passage. We have a rare moment for the Senate Foreign Relation Committee and the senate as a whole to demonstrate this. And coming together to demonstrates our ability to give constructive input on one of the most Important National Security Issues of the day and strain our divisive influences in this body and demonstrate our ability to overcome them and show the relevance and Work Together to come together in the best interest of our nation. With that, madam president , i yield the floor. Next, the Supreme Court Court Hears Oral Argument in several samesex marriage cases. Then we open it up to you and later a debate on samesex marriage on todays washington journal. Throughout the day we have been seeing comments from a number viewers. This one from maxwell who says it has been legal in the uk for a while and their society is still entact and no one elses marriages have been ruined. Get the government out of marriage all together. Facebook. Com cspan. And on twitter jennifer who covere
Testimony. Theyre aware of and theyve been, you know, the deputy secretary has been working on. So i think that works well, and we also try to meet regularly with other Senior Leaders in the department as well, so that relationship is important. You need that good working rels ship, because we cant force them to comply with working relationships. In terms of operationally, you know i would say that the secure the implementation of the the recommendations is something that has been a department. But its something were working on now and monitoring. Its one of the bigger issues. I really think that theyre they need to step up their oversight of contracts and grants. So i would say that is probably extremely important priority. And the it infrastructure. After all weve heard about hacking in the news and so forth. This is a very serious issue. Theres a lot of Sensitive Information on the networks. And we need to make sure the Information Security system is protected. To me, those are the