How can the Obama administration and Congress spur businesses to stop hoarding cash and invest?
Less wrangling. Greater certainty. And more civility.
QE3: Is it necessary?
Another round of quantitative easing would take the pressure off in the short-run but merely postpone the hard decisions that need to be made now. I think it would send the wrong signal to the markets and to the country.
Can true deficit reduction occur without looking at revenues?
No. Revenues need to be part of any comprehensive solution to structural problems, especially in unsustainable entitlement programs. That doesn’t necessarily mean increases in tax rates. Reforming the tax code could lower rates and broaden the base.
How open is business to eliminating or curtailing breaks?
Many leaders would embrace reforming the complex tax code. Some accountants and lawyers might have a different view. The cottage industry that’s grown up around the tax code likes complexity. But everything should be on the table, including the mortgage deduction.
Obama should do what, in your view, to get the economy back on track?
Embrace tax-code reform, stabilize housing, and launch an “America Works!” initiative to encourage Americans to buy goods made here and highlight companies that are expanding their U.S. manufacturing and repatriating jobs.