Economic Signals Point to a 2013 RecessionPosted By Jim Johnson |
Russ Carroll said:
http://online.wsj.com/article/SB10000872396390443816804578000484118713060.html?mod=opinion_newsreel
However, as the article concludes:
"President Obama has already said that if re-elected he plans to continue working outside the congressional budget process, meaning more years with no budget or bipartisan input into the allocation of taxpayer resources. That leaves the odds high of more credit downgrades, damage to growth and lower equity and house prices as recession sets in. Meanwhile, the capital-gains tax rate is scheduled to rise to 23.8% from 15%, hammering the after-tax value of assets.
It doesn't have to be this way. Strong presidential leadership could steer us away from fiscal and monetary disaster and set a path toward growth. Great countries like ours move forward because people choose a better course after a policy failure."
The stagnant economy and deficit/budget crisis are the primary reasons I am holding my nose and voting Republican this year (as opposed to holding my nose and voting the Democratic ticket). Will Romney and the Congress have the stones to minimize tax cuts and make the deep budgetary cuts necessary to see any progress in debt reduction? Will the Republican economic policy make a difference? I hope so.
Jim J