I’m not sure if I agree with Mr. Lazear but then again I am jealous I won’t get any free money

EDWARD LAZEAR TELLS FOX BUSINESS NETWORK THAT IF AMERICA WAITS TO TAKE ACTION IT COULD BE TOO LATE

Courtesy of Fox Business

In a television interview with FOX Business Network’s Neil Cavuto, Edward Lazear, Chairman of the Council of Economic Advisors to President Bush, says the President’s economic stimulus plan that was passed by both sides of the House today will not set a negative precedent regardless of the fact that America is not yet in a recession.

On whether Bush’s stimulus plan sets a negative precedent since America is not yet in a recession:

“I don’t see this as a check from the government. I don’t see this as lollipops. I see this as tax cuts giving money back to the people…I think it will have a long-run benefit in the sense that if we create growth right now, we’ll create a situation where the economy can grow further in the future. If we wait and don’t take action right now, it may be ok, things might be just fine. But if we’re wrong, we won’t be in a situation to reverse things later.”

“The problem is that if you wait until things are bad then it’s always too late…If you want to act, you have to act early…It’s wise to do it right now simply because the risks on the downside are sufficiently great.”

“We think that this is a measure that is wise. We think this is a measure that will help the economy get through some potential rough spots in the short term and we believe that it’s an investment worth making.”

“We like tax cuts …We also like having money in the hands of the people. That’s always been one of the key principles on which the President has run the economy.”

On permanent tax cuts:

“We believe that permanent tax cuts are the best way to grow the economy in the long-run…We haven’t decided in any way that we’re not going to push that forward. You’ll see that coming in the near future.”

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