Robert J. Samuelson, contributing editor to Newsweek and Washington Post and Author: The Great Inflation and Its Aftermath: The Past and Future of American Affluence joined The John Gambling Show 01.06.09
Author and Writer Robert J. Samuelson joined The John Gambling Show 01.06.09 to discuss his new book plus provide his economic outlook for 2009 - how much more fiscal pain are we going to endure and does President Elect Obama have the answers? PLUS: Will all those bailouts really work?
Samuelson said that we have gone from one extreme to the other over the last 20 years - people spent and not saved and now are saving and not spending. This paradox of what\'s good for the individual family may not be good for the economy. He also believes the banks tough lending standards is also contributing to this problem - a boom and bust syndrome. Samuelson said that this goes against the grain of what most economist thought was going to happen.
Samuelson added that only time will tell if Obama\'s spending and stimulus plan will work. Robert believes it is a necessary evil that is not the solution out of this crisis and warns that we must find a way to regenerate spontaneous spending through new technology or exports - or this stimulus won\'t work.
Finally, Samuelson said that permanent tax cuts is not the solution - especially due to our huge deficits. Robert says that he is worried about the infrastructure projects labeled with the verbiage \'shovel ready\' ; the bottom line is some infrastructure spending and temporary tax cuts would be the way he would go.
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Robert J Samuelson on The Economy
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