Summary
Stubbornly high unemployment, diminished consumer confidence and falling stock prices indicate Obamanomics' failure. Illuminating why it's failing -- and how to change course -- is Allan H. Meltzer, Carnegie Mellon University economics professor.
Writing in The Wall Street Journal, Professor Meltzer says this White House has heightened business and investor uncertainty about future taxes and regulations -- growth's enemy. It has "neglected the longer-term costs and consequences" of its stimulus bill's tax cuts and federal relief for state budgets -- both temporary -- and deepening of public indebtedness.See the full content of this document
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Obamanomics Fails: Meltzer's Remedy
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