Here we go again as if we haven't had our fill of this lunacy. More fiscal conservatives in the Obama Administration. And you guessed it!...they've got either Harvard or Goldman Sachs' ties. (Or both!)
Jerome Powell and Jeremy Stein. Powell is a lawyer with no economics background (bad) and Stein is a Harvard professor (worse!).
|“I am by any fair reckoning a fiscal conservative,” Powell, who goes by Jay, said in a May 16 interview with Bloomberg Television. At the same time, allowing a default is “just not a risk that you run.” |
“That doesn’t mean that you don’t negotiate very hard to get additional spending cuts and get the deficit under control,” he said. “You do. But that crosses the line into hostage taking, I’m afraid, and is just tactically unacceptable.”
Did you get that part about "getting the deficit under control?"
And here's a Stein quote:
Nothing in there about rampant fraud and lax oversight. Only implies low interest rates created the "bubble" and there was too much leverage. Peter Schiff stuff.