Two Former Treasury Secretaries who Screwed Workers Oppose More Help, Now

[laughingliberal]

U.S. Economy Improving, More Stimulus Isn't the Answer, Rubin, O'Neill Say

The U.S. economy will improve slowly and another round of fiscal stimulus probably wouldn’t be effective, former Treasury secretaries Paul O’Neill and Robert Rubin said.

Rubin, who served under Democratic President Bill Clinton, said the U.S. is “going to have slow and bumpy growth,” during a taped interview on CNN’s “Fareed Zakaria GPS” aired today. A “major second stimulus” might create more uncertainty and undermine confidence, he said.

Companies concerned about demand won’t expand facilities or hire new employees until sales have improved, said O’Neill, who was Treasury secretary under Republican President George W. Bush. “We are moving forward at a pretty gradual pace,” he said. “But I don’t think things are terrible.”

http://www.bloomberg.com/news/2010-08-07/u-s-economy-improving-more-stimulus-isn-t-the-answer-rubin-o-neill-say.html

[elleng]

1. 'O'Neill reiterated

that he strongly opposed the Bush tax cuts of 2003 {and thereby lost his job} and said the president and U.S. lawmakers need to focus on overhauling the entire tax system rather than on the expiring cuts.

Not ‘Intelligent People’

“The tax code we have is proof we’re not an intelligent people,” said O’Neill, a senior adviser and consultant to New York-based Blackstone Group LP. “The president could earn a lot of credit and he could make a huge difference if he would lead the charge for fundamental tax reform,” which might include a “consumption-based tax.”'

[DJ13]

2. I watched some of that this morning

Two past their time economics guys who were both wrong in the past trying to stay relevant.

Their records are so poor they shouldnt be considered for anything but what not to do by future generations.

[DURHAM D]

3. Do you honestly want a new half-ass stimulus package over their other suggestions?

[laughingliberal]

5. No. I want a new real stimulus package AND the fucking tax cuts for the rich repealed. nt

[nashville_brook]

4. lord, we wouldn't want anyone put to work under a stimulus program...b/c that would...

allow people the confidence to start buying shit again?

the only "confidence" their afraid of losing, is the confidence that they can screw the workers into less and less pay. they WANT deflation. they really do.

[laughingliberal]

6. Correct! They have no interest, at all, in a resurgence of the working/middle class