Friday, October 30, 2009

Phony Numbers Here, There and Everywhere

This from The New Republic, no less:

"On my previous beat, I felt an obligation to talk down any good piece of polling data, so I figured I'd extend the tradition to my economics coverage...

Here's my concern with the impressive-looking GDP growth number of 3.5 percent: It reflects a lot of one-off boosts to growth and masks trends that are likely to get worse."

Hmmm, you mean that "cash for clunkers" and other phony stimulus "one-off boosts" didn't create an environment for a self-sustaining recovery.  Who know?  Oh yeah, anyone who ever took Economics 101.  Here's a simple three-pronged strategy that will lead to recovery: tax cuts, tax cuts and tax cuts.

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