Ezra Klein, Bloomberg
Earlier this month, Tim Pawlenty,the former governor of Minnesota, promised that his package oftax cuts, spending cuts and regulatory reforms would boost realgross domestic product growth to 5 percent annually for 10years, cutting the deficit almost in half along the way. Soundsgood, right? But why is Pawlenty setting his sights so low?Economists, of course, think his opening bid already placeshim in fantasyland. "The trend growth rate is not going to be 5percent in the United States," Douglas Holtz-Eakin, a topRepublican economic adviser and former director of theCongressional...
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