By Jeff Harding.
The new jobs bill negotiations are apparently getting under the skin of our politicians. As reported in the Wall Street Journal Wednesday, the Republicans and Democrats were rather testy with each other during a meeting with the President. Here’s part of their exchange:
Republicans pushed Mr. Obama to freeze federal spending, a plea the president answered by repeatedly challenging them to produce an economist who believed that cutting spending now would be a good idea.
Attending the meeting were, among others, House Speaker Nancy Pelosi (D., Calif.), and Republicans Rep. John Boehner (R., Ohio), Rep. Dave Camp (R., Mich.), House Republican Conference Chairman Mike Pence of Indiana, Sen. Charles Grassley (R., Iowa), and House Republican Whip Eric Cantor (R.,Virginia). I didn’t see Ron Paul’s name on the invitee list. These brilliant Republican leaders apparently were stumped by President Obama’s challenge. Can you just imagine the smirk on Mrs. Pelosi’s face.
Well fear not. I know the answer. Here is a list of 200 economists who would disagree, including including Nobel Laureates Edward Prescott, Vernon Smith, and James Buchanan. This was published in many of the nation’s leader newspapers late January, 2009 by The Cato Institute. Maybe the Republican leaders don’t read the New York Times or the Washington Post. There are many, many more economists who believe cutting spending now would be a good idea.
Click to enlarge
