Congressional Democrats’ Adviser Joins Call for Regime Certainty
By Mary Theroux • Wednesday September 8, 2010 2:34 PM PDT • 2 Comments
Joining the growing tide of those calling for an end to federal regime uncertainty, Moody’s economist Mark Zandi, a frequent adviser to Congressional Democrats, on CBS’s “Face the Nation” on the importance of quickly extending the tax cuts scheduled to expire at year end:
I wouldn’t raise anyone’s taxes in 2011. I mean, I think the recovery is just too fragile and we can’t take that chance. . . . In my view, the reason why businesses aren’t hiring—the key reason is because of a lack of confidence. They’re just nervous, flat out nervous. And we have to provide some certainty in [taxation]. From an economic perspective, the sooner the better.
As cited in today’s Wall Street Journal.
Tags: Budget and Tax Policy, Business, Economics, Labor, Taxation, Unemployment 
As much as I am glad to see others acknowledge regime uncertainty, I have a hard time respecting Zandi after watching the auto industry bailout congressional hearings in which Zandi kept saying bankruptcy would be a catastrophe and that we needed to pile heaps of TARP (aka taxpayer) money onto the Big Three to save the world.
Lawrence | Sep 9, 2010 | Reply