Stating the obvious: Politicians know politics; that's their business. Business is not their business, and any discussion about American presidents and economics has to begin with this discouraging word: American politicians, with a very small number of exceptions, don't know anything about economics. In Washington, during the deficit debates for the past few weeks, politicians are guessing–as I think most economists and pundits are–and they seize on almost any deficit idea that sounds good at the time. It has been ever thus: A mainstream American conservative, Richard Nixon, blurts out that we are all Keynesians now, and a mainstream American……
Tag: debt crisis
Restoring America’s Future
Task Force Co-Chair and former Sen. Pete Domenici speaks during a news conference to launch the Bipartisan Policy Center's Debt Reduction Task Force January 25, 2010 in Washington, DC. (Photo credit CNN)As a Democrat, I believe that government plays a seminal role in educating our kids, building our transportation and communications infrastructure, protecting our environment, and maintaining our national defense. All are essential to a strong America. But all are impossible in a broke America. To ensure that the federal government can play that role and, in this way, help secure a bright future for America, we must act now……