The Wall Street Journal in an opinion piece by Peter Berkowitz with the heading “The Debt Deal and the Progressive Crack-Up” stated that “… in a February letter to President Obama signed by 150 American economists: Reining in spending is crucial to generating real economic growth, spurring the private sector, and thereby producing jobs.”

A possible and alleged cook the books, effort might have been made by House Speaker John Boehner.

“… a closer inspection reveals that many (economists) have made baseless predictions in the past, some endorse fringe economic ideas, many are employed by entities that receive funding from the Koch brothers, and others have used extreme partisan rhetoric to attack President Obama and other Democrats. Worse, 43 of the 150 economists previously signed a letter stating President Bush’s tax cuts were “fiscally responsible.” Boehner was hoping for credibility, but many of these economists are just not credible, even by the standards of conservative economics”. http://mediamattersaction.org/search/index?qstring=van+jones

The point is that it’s now time — long past time — to get serious about the real crisis the economy faces. The Fed needs to stop making excuses, while the president needs to come up with real job-creation proposals. And if Republicans block those proposals, he needs to make a Harry Truman-style campaign against the do-nothing G.O.P.
http://economistsview.typepad.com/economistsview/unemployment/

 

Updated September 26, 2020