Is Obama Correct on Seeking GOP Support for his Fiscal Stimulus?
by Charles Lemos, Fri Jan 09, 2009 at 09:52:29 PM EST
From the New York Times:
In part because Mr. Obama wants and needs bipartisan support, the package is being shaped by political as well as economic imperatives, complicating the process by putting competing ideological approaches into the mix.
It includes $300 billion in temporary tax cuts for individuals and businesses, in part to attract Republican support. . . Republicans, as always, are advocating for more and broader tax cuts. But the evidence is ambiguous about whether tax cuts will really spur economic activity at a time when consumers and businesses alike are frozen in fear and reluctant to let go of their money
I understand that our post-partisan President-elect "wants" bipartisan support, but does he "need" bipartisan support? I am not convinced that there is much, if anything, to be gained from this approach. My belief is that only economic imperatives should drive the shape of fiscal stimulus. Your thoughts?