pageok
pageok
pageok
"Not Going To Put My Lot in With Economists":

From ABC News This Week on Sunday, an exchange about Sen. Hillary Clinton's gas tax suspension plans:

[George Stephanopoulos:] But economists say that's not going to happen. They say this is going to go straight into the profits of the oil companies, they're not going to actually lower their prices. And the top two leaders in the House are against it. Nearly every editorial board and economists in the country has come out against it. Even a supporter of yours, Paul Krugaman of 'The New York Times" calls it pointless and disappointing. Can name one economist, a credible economist who supports this suspension?

[Clinton:] Well, you know, George, I think we've been, for the last seven years, seeing a tremendous amount of government power and elite opinion basically behind policies that haven't worked well for the middle class and hard-working Americans. From the moment I started this campaign, I've said that I am absolutely determined that we are going to reverse the trends that have been going on in our government and in our political system. Because what I have seen is that the rich have gotten richer. A vast majority, I think something like 90% of the wealth gains over the last seven years have gone to the top 10% of wage earners.

[Stephanopoulos:] But can you name an economist who thinks this makes sense?

[Clinton:] Well, I'll tell you what, I'm not going to put my lot in with economists. Because I know if we did it right, if we actually did it right, if we had a president who used all the tools of the presidency, we would design it in such a way that it would be implemented effectively....

Thanks to Wall Street Journal's Best of the Web for the pointer.

pageok