[FoRK] Fed Makes Emergency 0.75% Rate Cut

[Jeff Bone]

On Jan 22, 2008, at 6:51 PM, J. Andrew Rogers wrote:

>
> On Jan 22, 2008, at 4:28 PM, Sat N wrote:
>> Does anyone else find it disturbing that both the Fed and President
>> use just the stock market performance solely as an index of economic
>> performance?.
>
>
> Well, that and the idea that either the Fed or the President is  
> responsible for the strength of the economy.  If there is a problem  
> with the economy, the blame rests largely with Congress since the  
> policies that will actually make the economy weaker or stronger are  
> under their purview.
>
> I always found it odd to blame a President for an economy -- for  
> good or bad -- when it is almost entirely Congress that has control  
> over these things to the extent that the government has control  
> over the direction of the economy at all.

The President leads by example, sets the tone, and acts as the throttle.

Well, hypothetically.  This one led by setting an example of absolute  
fiscal *irresponsibility.*  Certainly no throttle for the first 6  
years.  (Did he veto a SINGLE spending bill before 2007?)

But if you want to blame Congress, fine;  the GOP trifecta from  
2001-2007 fundamentally broke the bank, and the idiot Dems haven't  
done a damn thing to fix it.

jb