«
»

Reality Bites: Higher Taxes, Fewer Govt. Services Coming

Email this post Print this post
By Barry Ritholtz - February 26th, 2009, 2:30AM

In his first address to a joint session of Congress last night, President Obama called for expensive and broad efforts in three major areas — energy, health care and education. He also suggested government bailouts are far from over.

In short, Obama outlined a broad, ambitious overhaul of domestic policy after eight years under President George W. Bush. Will the blueprint work?

Our guest Joe Brusuelas, director of market economics for Moody’s Economy.com, so far likes what he has heard, saying now is the time for decisive leadership on spending issues. And that’s a compliment coming from Brusuelas, who publicly had supported Senator John McCain.

PERMALINK
Category: Bailouts, Economy, Politics, Video.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Reality Bites: Higher Taxes, Fewer Govt. Services Coming”

  1. Bruce in Tn Says:
    February 26th, 2009 at 6:54 am

    Lots of fussing about the GOP governors turning down additional unemployment monies from Uncle due to it in reality being another unfunded mandate in a couple of years.

    Well, yesterday, our moderate Democratic governor for Tennessee, Phil Bredesen, was quoted on the local PBS station as having the same concerns, and he too, will probably just say no….

    I do have one idea…in the age of nationalization, let Uncle nationalize unemployment benefits…taxes go straight to Uncle, and benefits come from him too….that way unfunded mandates of this sort on the states who can’t spend until they drop, will cease…

    Or you could pass a national balanced budget amendment that would go into effect at the end of O’s term…..hmmmmm?

  2. Barry Ritholtz Says:
    February 26th, 2009 at 1:36 pm

    See this

    http://www.ritholtz.com/blog/2009/02/tds-clusterfk-to-the-poor-house-gop-govs-at-odds/

48 queries. 0.293 seconds.