This type of explanation for when things will recover indicates to me that the Obama people think things will take awhile
From AFP:
The United States needs the rest of the world economy to emerge from its slump as much as other economies need a US recovery, Treasury Secretary Timothy Geithner said Wednesday.
Geithner, in a speech ahead of gatherings of global finance officials in Washington, highlighted the interdependence of the US and world economy amid the worst global slump in decades.
"The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe," he told the Economic Club of Washington.
"Just as importantly, we need the rest of the world to recover if we are to prosper again here at home." . . . .
Labels: Economy
posted by John Lott at 9:24 PM
1 Comments:
This is based on the premise that the administration wants the economy to recover. I do not believe it does. As long as the economy stays down they can use it as a "see I told you so" reason to expand government. I remember in one of Obama's speeches the phrase "only the government is big enough to fix this" referring to the economy.
So I must assume Obama wants to make the government bigger to fix more things.
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