Spend Now, Save Later, Bond Fund Leaders Say

[ShockediSay]

Early in Bill Clinton’s presidency, his populist advisers saw their spending plans crash into resistance from Wall Street, which demanded deficit-cutting austerity....

As it happens, two leading bond traders have strong opinions — though not what the Clinton-era populists would have expected.

Austerity? Yes, say Bill Gross, a Republican, and Mohamed El-Erian, a Democrat, the chief investment officers of the giant bond fund Pimco. They support curbs on entitlement spending.

But that is for the long term. Right now, they argue, the government needs to arrest America’s dangerous economic slide....In fact, their prescriptions are more aggressive than any the White House has proposed or appears to be contemplating for President Obama’s planned speech in September. Among them: direct federal hiring to reduce unemployment and increase lagging demand.

http://thecaucus.blogs.nytimes.com/?8qa&scp=1-spot&sq=the+caucus&st=nyt

But these bond traders want to see America prosper, unlike our Right Wing Professional bribe taking politicians who are out for power and want Obama out of the way, no matter how it hurts our nation with all cuts no taxes.

[Hawkowl]

1. Direct employment

It is a solution.