As published for The Boston Globe on June 12, 2009:

By Jeff Rosen and Susan Dudley

THE OBAMA administration’s macroeconomic policies to “stimulate” the economy have been unprecedented and visible, costing Americans in the trillions, including $787 billion for the “stimulus,” a $410 billion “omnibus” spending package (on top of last September’s $800 billion “minibus” spending), and another $600 billion or more for the financial bailout, over and above all the automatic federal entitlement spending. In addition, even ignoring this year of “stimulus” spending, the president’s proposed budget for fiscal year 2010 would increase annual spending from $3 trillion last year to $3.6 trillion next year, while adding more to the federal debt in the president’s first two years than the prior eight years combined.

While economists disagree on whether these macroeconomic policies will actually help the economy in the short or long run, no one disagrees with their goal – a robust, growing economy that continues to offer Americans fulfilling opportunities to pursue their dreams.

Unfortunately, there are less visible microeconomic government actions that are likely to counteract these policies, hindering our economic recovery and preventing us from realizing that goal. Many of these are included in the administration’s Spring 2009 regulatory agenda, with hundreds of planned regulations spread across many agencies.

Read the full article here

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