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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (86500)	12/8/2010 8:42:18 PM
From: koan	Respond to of 149317

Paul Krugman: December 8, 2010, 10:17 am The Hard (Money) Men There’s a widespread impression that Keynesian fiscal policy has failed. I would argue that this impression is wrong — that the truth is that it was never tried. But surely one clear lesson of recent events is the macroeconomic value of currency flexibility: Poland, Iceland, Sweden have all benefited from currency depreciation during the worst times. But Republicans want the Fed both to abandon concerns about employment and to focus on keeping the dollar strong: Reps. Paul Ryan of Wisconsin and Indiana’s Mike Pence both repeated calls for an end to the central bank’s dual mandate to promote both jobs and maintain price stability. Members of Congress aren’t trying to encroach on the Fed’s independence, Pence said, but may have to take legislative action to change the Fed’s responsibilities. “It’s time that the Fed focus solely on price stability and the dollar,” Pence said. He said the Fed’s plan to buy $600 billion in Treasury securities to goose the economy — generally known as “QE2? — is an example of the central bank overstepping its bounds. Oh, and this: Pence said he supports comments made by World Bank President Robert Zoellick last month that global leaders should reconsider gold’s place in the global monetary system. “The time has come to have a debate on the role of gold,” Pence said. In other news, Republicans have demanded that doctors consider reintroducing the practice of treating illness by bleeding their patients. . E-mail This PrintShare Close LinkedinDiggFacebookMixxMy SpaceYahoo! Buzz Permalink Twitter

To: koan who wrote (86500)	12/8/2010 11:08:38 PM
From: ChinuSFO	Read Replies (1) \| Respond to of 149317

The Tea Partiers are dissatisfied with the plan like the liberal left is though for different reasons. That in itself tells me that it is a good plan since no political parties won and the American people (middle class and small businesses and property owners) won instead. It is time for the liberal left and the Tea Partiers to march arm in arm at a protest rally.