Greg Ip

Articles by The Economist’s U.S. Economics Editor

Economic policy: Countdown

leave a comment »

Deadlines loom, but a gridlocked government may not be able to act

Nov 4th 2010 | WASHINGTON, DC

[Greg Ip] WALL STREET wisdom holds that political gridlock is good for the economy. When Democrats and Republicans are busy quarrelling, the theory goes, they have less time to tie up business in red tape or to bust the budget.

That wisdom is about to be tested. On October 29th the government reported that GDP grew no more than 2% at an annual rate in the third quarter, barely enough to keep joblessness from rising, much less to create work for the 8m who lost their jobs during the recession. Growth in the current quarter looks no healthier.

The full article is linked here.


Written by gregip

November 4, 2010 at 10:06 pm

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: