Morning Bell: Death, Taxes and the Failure of Obamanomics
Mike Brownfield /
Benjamin Franklin famously said, “In this world nothing can be said to be certain, except death and taxes.” With America’s stagnant-as-a-swamp economy still stuck at 9.5% unemployment, an unexpected 484,000 new jobless claims, and reports of a slowed recovery, it might be time for old Ben to pull out his quill and add another certainty to his list: the continuing failure of Obamanomics. Judging by the words of one of President Barack Obama’s economic advisors, it doesn’t look like the Administration is going to change course anytime soon.
On ABC’s “This Week with Christiane Amanpour,” Laura Tyson, a member of the President’s Economic Recovery Advisory Board, called for even more of the same tried-and-failed Obamanomics stimulus policies, when asked how to get the economy moving faster:
We have to continue to do everything we can to stimulate demand in the economy… Invest in people. Invest in infrastructure. Invest in knowledge,” she said. “Invest, invest, invest is really what we must do.