Hedge did your position on tax cuts change? I thought you were opposed?
Not really.
But you remember correctly that before the economic crisis I was in favor of raising taxes in order to build budget surpluses and cool down the economy.
I am a firm believer in Keynesanism.
So I believe in tax cuts during recessions in order to get the economy running.
And tax raises during economic boom in order to cool the economy down, and to build a healthy budget surplus for bad times a head.
I see a lot of guys posting how USA shouldn't spend money right now.
But that would freeze up the economy totally.
The problem is that USA comes into this situation being already in debt, since Reagan every budget has been a deficit except for a few during Clinton.
Would USA's economy been like during Ike, or like it was in the 60's, a crisis like the current one could've been easily bridged over, because the resources were huge back then.
USA could've overspent for a few years, then gone back into running surplus budgets.
But it's not the same today due to irresponsibility by past presidents.
USA still needs to spend to get out of the crisis. But Obama needs to get rid of any unneccessary costs in his budget as well.
JMHO.