FISCAL CLIFF | they said it “(The current levels of federal deficits) are like a cancer, and they will destroy this country from within.” —Erskine Bowles, chief of staff for former President Bill Clinton and chair of the Simpson-Bowles Commission, as quoted in Real Estate Weekly
“(Congress’) hesitation adds insult to injury to an economy already flirting with a stall rate.” —Diane Swonk, chief economist of Mesirow Financial, referring to the slow pace of economic growth so far this year, in a Sept. 12 Wall Street
“We can lead, but we can’t lead by not making decisions.” —Former Michigan Gov. John Engler, president of the Business Roundtable, about
Journal article
the fiscal cliff, as quoted in Money Morning
”I don‘t think our tools are strong enough to offset the effects of a major fiscal shock.”
“This economy really doesn’t need another self-inflicted wound, and that’s what this would be.” —Jared Bernstein, senior fellow at the Center on Budget and Policy Priorities, about sequestration and the fiscal cliff,
—Fed Chairman Ben Bernanke at a Sept. 14 press conference, as
as quoted in Stateline
quoted by Reuters news service
5
» NOV / DEC 2012
—Former President Bill Clinton on the impending fiscal cliff, on CBS’s “Face the Nation” in September
CAPITOL IDEAS
“I think as soon as this election’s over, the incentives for gridlock will go way down and the incentives for action will go way up.”
