A Must Read….
Bob Latta says:
From two of my colleagues, Paul Ryan (R-WI), ranking member of the Committee on the Budget and a member of the Committee on Ways and Means; and Jeb Hensarling (R-TX), a former chairman of the Republican Study Committee and currently the vice ranking member of the Committee on the Budget and a member of the Committee on Financial Services.
Why No One Expects a Strong Recovery
When you repeal sound economic policies you repeal their results.
By JEB HENSARLING AND PAUL RYAN
One of the strongest factors promoting recovery from our 10 post-World War II recessions was an unshakable conviction that, regardless of the immediate trouble, the American economy is fundamentally strong. Based on this underlying confidence, recessions and recoveries roughly conformed to the principle of the bigger the bust, the bigger the boom, and vice versa.
Thus real growth in the four quarters following postwar recessions averaged 6.6% and 4.3% over the following five years. As the chief economist for Barclays, Dean Maki, said in this newspaper on Aug. 19, “You can’t find a single deep recession that has been followed by a moderate recovery.”
Read more at online.wsj.com
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Randy Neugebauer November 20, 2009 12:46 pm
McCafferty Himself November 20, 2009 6:27 pm