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To: Les H who wrote (22813)8/3/2004 11:52:55 AM
From: bentwayRespond to of 306849
 
I think she got it wrong. Rubin's idea wasn't that raising taxes would stimulate the economy. His idea was that reducing the deficit would stimulate the economy. Whether it did or not is a legitimate question. My own feeling is that it did, not through any economic reasons, but through psychological ones. It's the first time in my lifetime that the defict has gone DOWN. I thought it would never happen. It was, to me, a miracle of governance! It gave me irrational exuberance!



To: Les H who wrote (22813)8/3/2004 12:11:04 PM
From: Jim McMannisRead Replies (2) | Respond to of 306849
 
"Still, it's not idle speculation to consider how Rubin would be as Fed chairman. For starters, he's a lawyer, not an economist. Second, his grasp of economics appears slim, confined to buzzwords and mantras rather than a command of how the various parts of the economy interact."


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