According to some folks “policy uncertainty” is one thing that’s causing the economic rebound to be so weak.
On its face it’s depressing that so much economy depends on an accurate forecast of policy, but regardless, it sounds as though The White House is taking some moves to rectify this, or at last paint itself as being more pro-business.
Earlier in the day, Fox Biz’s Charlie Gasparino reported that Tim Geithner had launched a charm offensive with major corporations, trying to convince them that The White House did not see them as the enemy.
A few hours later Geithner was on Larry Kudlow’s show, pretty much preaching that exact message.
Sec. GEITHNER: We have a pro-growth agenda. Part of the agenda is growing exports. They’re central to our future. What the president today is to say, that is important to the United States, we’re going to be committed to making sure we’re that we’re expanding opportunities for American business everywhere. Now, this president understands deeply that governments don’t create jobs, businesses create jobs. And our job as government is try to make sure we’re creating the conditions that allow businesses to prosper so they can hire people back, get this economy going again.
Sec. GEITHNER: We have a recovery led by private demand, private investment, private recovery. That is the most important thing we can do right now. Now, as part of that, we want to make sure that governments around the world are working with us to make sure we’re strengthening growth. In the United States, what the president does propose a series of very targeted measures to support business investment, credit for small businesses, help stay–keep teachers in the classrooms. Those are very sensible–those are good policy for the country. But of course, we recognise that if we’re going to have growth in the future we also need to be–make people confident that we’re going to have the will as a country here in Washington to act to bring those deficits down over time as growth strengthens, recovers. But our job now is about growth. Now, all the government can do is to make sure we’re providing a bridge to the recovery in private demands.
Anyway, we doubt anything’s going to move the needle much, and this could be a one-day push. If anything, it’s indicative of the political thinking inside The White House, that the “pro-business” message wasn’t coming through.
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