I wonder. Interest rates are determined by the intersection of the LM Curve (monetary policy) and IS Curve (fiscal policy). Right now, it seems to me that we are in what both Keynes and Friedman called the Liquidity Trap. If true, monetary policy is pretty much ineffective and you need fiscal measures to pull us out, which essential boils down to two broad policy measures: 1) increase spending, or 2) lower taxes. Since our elected political hacks use our tax money to buy votes, they opt for measure #1. Lets try #2 for a while and see if that ends Obozo's 7 years dismal economic record.
I couldn’t agree more. Lower taxes will both increase disposable income and incentivize economic activity. Of course we also need to cut down on the regulatory madness that weighs heavily on business.
We need to restore a normal range for GDP growth motivate production in this country once again. And we can start making a dent in the debt by shrinking the excessive growth of government.