Tags: Boskin | Obama | economy | election

Boskin: Three Steps Obama Should Take on Economy After Election

By    |   Tuesday, 28 October 2014 07:20 PM

There is still hope that President Obama can cooperate with Republicans in Congress to solve some of our biggest economic problems, says Stanford University economist Michael Boskin. 

"A new direction following the mid-term elections may be possible," the chairman of President George H.W. Bush's Council of Economic Advisers writes in The Wall Street Journal.

President Reagan implemented tax reform in 1986 under a divided government, and President Bill Clinton did so with balanced budgets and welfare reform.

"Mr. Obama would be wise to work with Republicans in three areas with low-hanging bipartisan fruit," Boskin says. 

  • "Lower the anticompetitive U.S. corporate tax rate.
  • "Liberalize trade with the Trans-Atlantic Trade and Investment Partnership, Trans-Pacific Partnership and the Doha Round of multilateral trade.
  • "Promote North American energy by approving the Keystone XL Pipeline, more LNG [liquid natural gas] export terminals, and more oil-exploration permits in the Gulf of Mexico."

Success in those areas would show people Obama's commitment to revive growth, Boskin says.

Meanwhile, star economist Nouriel Roubini of New York University, expects U.S. economic growth to total about 3 percent annualized in the second half of this year and into 2015. But he sees several risks to that scenario.

On the external side, "the global economy looks like it’s running on a single engine, the one of the U.S. The other three major ones [Europe, Japan and China] are sort of stalling," he tells FINalternatives news service.

An acceleration of the dollar's rise also could damage the U.S. economy, Roubini says. On the domestic side, it's not clear the economy can withstand higher interest rates from the Federal Reserve.

Related Articles:

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
Finance
There is still hope that President Obama can cooperate with Republicans in Congress to solve some of our biggest economic problems, says Stanford University economist Michael Boskin.
Boskin, Obama, economy, election
288
2014-20-28
Tuesday, 28 October 2014 07:20 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved