Boehner and Biden Economy Plan

Vice President Biden notice that the Administration should take John Boehner’s proposal to fire Treasury Secretary Tim Geithner and Economic adviser Larry Summers and the rest of the economic panel. Biden consider this  a :“Very constructive advice, and we thank the leader for that.”

This of course will be a big mistake to remove the entire economic team said Mark Zandi, who has been an adviser for Obama and John McCain.

Zandi, chief economist of Moody’s Analytics said :“Certainly changing leadership doesn’t engender any confidence, significant confidence. I don’t think that would be prudent or that would be helpful in any way”.Zandi went on to say that the $814 billion stimulus bill ended the recession and saved the country for an unemployment rate of 11.5 percent.

Dan Pfeiffer, White House communications director responded by saying:

“Today, Ohioans will hear the Minority Leader’s support for the same old failed economic policies that steered our economy into the ditch that we’re just now beginning to climb out of. We cannot afford a return to the past. These failed economic policies haven’t changed, and they won’t bring the change American families need.

Instead, after 22 straight months of job loss, we have now seen our economy create private sector jobs for seven months in a row. We are cutting government spending, and reducing the deficit by more than $1 trillion over the next ten years; putting ordinary Americans at the front of the line; cutting taxes for and extending credit to America’s small businesses; and investing smartly in our children’s future with a better education and a stronger economic foundation.“

The  Congressional Budget Office report said :  stimulus had raised GDP, reduced the unemployment rate and had increased employment by creating between 1.4 million to 3.3 million new jobs.

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