Pat!
Posted on 01/22/2008 6:02:54 AM PST by Brilliant
WASHINGTON (Reuters) - Treasury Secretary Henry Paulson said on Tuesday that the U.S. economy remains resilient and has healthy long-term fundamentals, but has slowed "materially" in recent weeks and needs a short-term stimulus.
"We need to do something now, because short-term risks are clearly to the downside, and the potential benefits of quick action to support our economy have become clear, said Paulson in prepared remarks to the U.S. Chamber of Commerce in Washington.
"The U.S. economy is resilient. The unemployment rate remains low and job creation continues, albeit at a modest pace. The structure of our economy is sound and our long term economic fundamentals area healthy," he said.
Pat!
Bernanke can lower the ST rates, Paulson can print money.
To quote Tom Berenger from “Platoon”: “Take the pain!”
IMPEACH Greenspawn!!!
Shut down the “Fed” for six months and send the Congress home. That’ll fix it.
why do we have a fed catering to the whims of wall street?
Because the tickers are prime time news and nobody is yet jumping out of their windows over the bank failures.....
The media drives the response.
Pat!
The economy is a potemkin village, and will soon be revealed as such to all the Freepers who see every economic report through partisan colored glasses.
If they really wanted stimulus, they’d give people some confidence in how to plan out for the future rather than just the next few months.
How about acknowledging that corporate taxes and the concommitant compliance issues are counter productive ?
Create an environment with the lowest Corporate income tax in the world — 0%. Then sit back and watch investment and hiring expand the economy.
Create an environment where people can feel assured that personal taxes will not be used to punish their success. Tax all income at a simple 10% rate for everybody, regardless of their life choices — children, mortgage, charity, etc. — by barring all deductions, exemptions, and other social engineering favoritism from ever distorting our tax code again. Exclude only the income that has been promised as tax-emexpt — muni bond income, SS income, etc.
Let everybody know they can only benefit from any decrease in the tax rate from 10% to 9% to 8%, etc. by reducing spending, and cannot simply shift their tax burden onto somebody else to pay for government largesse.
Please. No common sense allowed.
I have hopes that common sense will become common again someday.
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