Reagan Era Economist Martin Feldstein Explains It All
News That Really Does Not Need Further Comment
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President Bush, at right, meeting with Martin Feldstein, a Harvard economist, in 2003
Martin Feldstein is professor of economics at HarvardUniversity and former chairman of the Council of Economic Advisers and President Ronald Reagan’s chief economic adviser.Writing in the Financial Times on Economics and the future for Mr. Obama,
“Forget the debt: its jobs that will define Obama’s future”
he concludes this way.
The US unemployment rate will come down when the government in Washington develops policies that encourage business investment, housing construction, small business hiring, stronger exports and other increases in demand. Unfortunately, it does not look like the Obama administration has a strategy for achieving any of that.