GOP To Fed Chairman: Don’t Improve Economy Until GOP Wins White House
Republican leaders have written a blockbuster letter to Federal Reserve Chairman Ben Bernanke demanding that he not do anything to help improve the economy. Republicans appear to see the letter as part of their obstruction strategy, along with actions in Congress, to oppose government efforts to fight the effects of the Bush Recession.
Financial writer Stan Collender describes the correspondence as “almost sinister and ominous in its tone” and that “The treat that terrible things will come to those who help the economy when the GOP is not in charge of the White House sounds very real.”
Republicans have sought to downplay the effect of President Obama’s stimulus on the economy, even though independent data has shown that the law halted negative growth and added jobs to the economy.
Further, Republicans have repeatedly pushed for tax cuts in response to the slowdown, replicating the policies of the Bush administration that precipitated the economic collapse. [CNBC]
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