Our sister publication asks analysts whether the administration's economic forecasts are too optimistic. They would have gotten a more interesting discussion if their query had been "Is the Pope Catholic?" Of course they're too optimistic. In fact, the word optimistic is too optimistic. A better choice might have been "insane". Like Greg Mankiw, I would love to find a sucker investor who is willing to take the other end of a bet that both growth and revenue will fall short of the administration's predictions.
Having defended Obama's candidacy largely on his economic team, I'm having serious buyer's remorse.
No comments:
Post a Comment