Larry Kudlow has been pounding the table for a stronger US dollar as the way to beat the recession. But now that the dollar has bottomed out, why isn't the recovery sticking? Lowering taxes might be a good place to start.
Over the past week, Bill Clinton, Larry Summers, and Glenn Hubbard have all made the same suggestion: Congress should extend all of the 2001/2003 tax cuts into early next year. It seems like an awful idea.
America has a huge budget deficit hanging over our heads. If the rich don’t pay their fair share, the rest of us have to pay higher taxes — or do without vital public services like Medicare, Medicaid, Pell grants, food stamps, child nutrition, federal aid to education, and more.
US adds only 69,000 net jobs, the smallest gain in a year. Employers pull in their horns in the face of fears over the eurozone and worries about the US elections and the expiration of tax cuts.