Tag Archives: Reagan

Obama Budget: DOA

By Andrew Busch | Published: February 14, 2011

My friend Larry Kudlow has been writing and promoting the idea that President Obama has acted in a similar fashion to former US President Ronald Reagan. With tax cuts and supply side like tendencies, Larry is hopeful of additional actions like a corporate tax cut that would aid the economy and job growth.

Don’t worry Steve Forbes, I don’t think President Obama is quite there yet…..but he will share another political attribute today. Obama’s budget will be declared DOA as it won’t cut spending deep enough and it will include tax increases. If memory serves correctly, this was how President … …READ MORE

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Obama to miss his “Reagan” moment

By Andrew Busch | Published: January 13, 2011

Friday, US Treasury Secretary Timothy Geithner is scheduled to meet with corporate CFOs to discuss changing the current tax structure that is inefficient at best and job killing at worst. This meeting is specifically going to address the corporate tax structure and comes after President Obama’s fiscal reform commission recommended cutting the rate from 35% to 25%. The 35% rate is the highest amongst the major G20 nations.

Unfortunately, it may be just a dog and pony show. According to the Hill, Valerie Jarrett, a senior White House adviser, acknowledged Wednesday that a push to overhaul the nation’s tax codes … …READ MORE

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Blinder & Zandi: Our Stimulus Worked!

By Andrew Busch | Published: July 28, 2010

The NYT reports today the findings of two Keynesian economists on the policy prescriptions they gave to solve the economic crisis. It worked! Honestly, can anyone argue that $862 billion of spending won’t help? Actually, they lump the Wall Street bailout, the bank stress tests, the emergency lending and asset purchases by the Federal Reserve, and the Obama administration’s fiscal stimulus program all together to say that it all worked.

The better analysis would’ve extended the thought to: what are the costs and what are the benefits of these programs? Also, what would’ve been the costs and benefits of a … …READ MORE

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Reagan on Fin Reg

By Andrew Busch | Published: July 16, 2010

The 2,330 leviathan is done and will be signed by President Obama next week. The bill leaves tremendous much of the rule making up to the big three: Federal Reserve, CFTC and SEC. The overlapping nature of the US regulatory system wasn’t addressed by the bill and there will be plenty of duplicitous regulation that will need clarification. The timeline for implementation is about 4 years and will be left to the discretion of the regulators. Remember, the genesis and goal of the legislation was to eliminate the risk of another financial meltdown that required taxpayer money to bailout firms.… …READ MORE

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What I Want To Hear From Obama Today on Jobs

By Andrew Busch | Published: January 8, 2010

As I warned yesterday, market expectations were for a positive number. So today’s -85 print, clearly disappointed and went against the employment data positive mojo since last month. The US dollar dropped, bond yields dropped, and the stock market dropped. If we would’ve had a strong number, key resistance levels for further US dollar strength would’ve been tested. Alas, not today…..yet.

On employment, I would agree with those that say the government needs to do more to help the jobs situation. But I disagree that the government creates the jobs.

Here’s what I’d like to hear from President Obama at … …READ MORE

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Obama Approval Rating At New Lows….

By Andrew Busch | Published: September 1, 2009

Rasmussen daily tracking polls show that President Obama’s presidential approval ratings hit -11. The peak was at +30 on the 2nd day he took office and has been declining ever since.  As the NYT David Brooks writes, “All presidents fall from their honeymoon highs, but in the history of polling, no newly elected American president has fallen this far this fast.”

This further perils his ability to get a health care bill passed in the fall and certainly means his fixation on public option will be in jeopardy. If he can’t compromise on the public option, he runs the risk … …READ MORE

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