after this self-induced nightmare of the debt ceiling, looked around and recognized this economy isn t going anywhere. basically folks had been in this sleep telling themselves the worst that could happen to the economy, we fail to raise the debt ceiling and we default. now, there s a lot to that. i actually think it s very good for the economy not to have the default staring us in the face just like it wouldn t be good for me to hit myself in the head with a heavy object. wall street saw two things, consumer spending was just about a zero, at least in june, and there s not and the game in town right now is really fiscal policy. monetary policy, the kind of thing the fed does to help lower interest rates, it s probably not going to be all that helpful now, borrowing costs are already low, firms are sitting on a lot of cash they could invest if
after this self-induced nightmare of the debt ceiling, looked around and recognized this economy isn t going anywhere. basically folks had been in this sleep telling themselves the worst that could happen to the economy, we fail to raise the debt ceiling and we default. now, there s a lot to that. i actually think it s very good for the economy not to have the de default staring us in the face just like it wouldn t be good for me to hit myself in the head with a heavy object. wall street saw two things, consumer spending was just about a zero, at least in june, and there s not and the game in town right now is really fiscal policy. monetary policy, the kind of thing the fed does to help lower interest rates, it s probably not going to be all that helpful now, borrowing costs are already low, firms are sitting on a lot of cash they could invest if they wanted to.
i think wall street woke up after this self-induced nightmare of the debt ceiling, looked around and recognized this economy isn t going anywhere. basically folks had been in this sleep telling themselves the worst that could happen to the economy, we fail to raise the debt ceiling and we default. now, there s a lot to that. i actually think it s very good for the economy not to have the default staring us in the face just like it wouldn t be good for me to hit myself in the head with a heavy object. wall street saw two things, consumer spending was just about a zero, at least in june, and there s not and the game in town right now is really fiscal policy. monetary policy, the kind of thing the fed does to help lower interest rates, it s probably not going to be all that helpful now, borrowing costs are already low, firms are sitting on a lot of cash they could invest if they wanted to. one of the things the street is
welcome back to the ed show. how about this? republicans have finally found a tax cut that they don t like. because president obama is in favor of it. that s why. and republicans don t want the economy to get any better before the election. that wouldn t be good. the obama administration has reportedly been open to the idea of a payroll tax cut for employers. and many economists believe it might actually stimulate hiring. another reason the obama administration was considering a tax stimulus. it s pretty much the only thing the republicans are going to agree to. but funny thing happened. certain republican leaders are now saying tax cut? no way. senator lamar alexander of tennessee, the senate gop conference chair, he s against it. he says, we don t need short-term gestures. we need long-term strategies. right. because a short-term stimulus
welcome back to the ed show. how about this? republicans have finally found a tax cut that they don t like. because president obama is in favor of it. that s why. and republicans don t want the economy to get any better before the election. that wouldn t be good. the obama administration has reportedly been open to the idea of a payroll tax cut for employers. and many economists believe it might actually stimulate hiring. another reason the obama administration was considering a tax stimulus. it s pretty much the only thing the republicans are going to agree to. but funny thing happened. certain republican leaders are now saying tax cut? no way. senator lamar alexander of tennessee, the senate gop conference chair, he s against it. he says, we don t need short-term gestures. we need long-term strategies. right. because a short-term stimulus