Thursday, September 8, 2011
Putting aside the substance of the proposals for the moment, and whether or not people agree or disagree with the specifics, is this the kind of tone people have been looking for from the president? The administration is writing the bill and delivering it to Congress next week; just pass it already, and do it right now. That sounded right to me. The burden is now on Congress to act, and do something big.
And when I say put aside the substance of the proposals, that is because I don't think the substance of the proposals is as important as the demonstration by the government that they can get something done. People want to see some action. Cut spending, raise taxes, raise spending, cut taxes. How much do the details matter, as long as the plan seems to make sense, and restores the confidence of consumers and businesses? I'm not an economist, and that's why I can say without knowing much about what I am talking about that it's the restoration of confidence, not the details of the proposal, that will make the most difference to the economy. That's why Congress should just pass the bill right away.