FROM Deirdre O’Shaughnessy
More Federal Stimulus Spending or a Switch to Austerity? White House OMB Director Peter Orszag has announced his resignation and insiders say it's due to frustration with the lack of aggressive action against the growing fiscal deficit. President Obama is committed to pumping up the recovery with continued spending and to his campaign promise not to raise taxes on households earning less than $250,000 a year. Is it time for increased federal stimulus spending or a switch to austerity? We hear a debate.
Stimulus or Austerity?: That Is the Question The consensus is that federal stimulus spending helped to prevent recession from becoming depression and got recovery under way. President Obama is committed to pumping up the recovery with continued spending and to his campaign promise not to raise taxes on households earning less than $250,000 a year. Deficit hawks say it’s time to raise taxes and get spending under control. But would premature austerity measures stop the recovery in its tracks? From the G-20 conference to Capitol Hill, and even within the Obama White House, policy makers are sharply divided. White House budget director Peter Orszag has announced his resignation , and insiders say it’s due to frustration with the lack of aggressive action against the growing fiscal deficit. What are the lessons of history? Are states like New Jersey and countries like Ireland unwilling participants in what could be a dangerous experiment?
Will the Senate write a healthcare bill in secret? While Democrats and Republicans argue White House relations with Russia, another question is being decided behind closed doors: who gets help buying health insurance and who doesn't? We hear how the pros and cons are being shrouded in secrecy.
White House budget proposal slashes and burns President Trump's first budget request is considered dead on arrival in Congress — a familiar development in Capitol Hill. We hear what it reveals about the priorities of the new administration. What's likely to die… and what might survive?