Martin Feldstein: Economy Could Fall Into Recession Under Obama’s Plan

By on November 27, 2012

Martin Feldstein - Harvard UniversityFormer advisor to Ronald Reagan and Harvard University Economist Martin Feldstein was interviewed on Fox Business yesterday and said he agreed with Fed chairman Ben Bernanke that if we go over the “fiscal cliff” the economy will fall into recession. Feldstein warned that even if we don’t go over the cliff president Obama’s proposals could cut growth by two percent and possibly send the economy into recession. These include raising taxes and closing deductions for high income individuals, raising the corporate tax rate, and eliminating the payroll tax holiday.

Feldstein also commented on additional factors challenging an assumption of two percent growth in 2013 and what Ronald Reagan would do now.

4 Comments

  1. TSoS

    November 27, 2012 at 12:02 pm

    Purchase Dead Island (released 2011, not the new one) for the PS3 when you get the opportunity. Very fun.

    • Barron Maestro

      November 27, 2012 at 7:36 pm

      Sultan, I’m not too interested in purchasing any more games as I have yet to master all of the aspects of Battlefield 3. I still have Red Dead Redemption which I’ve only played 5-6 times. Maybe we could try that out (didn’t I give that to you as a gift?).

  2. TSoS

    November 28, 2012 at 10:46 am

    Unfortunately, I re-gifted RDR almost immediately.

  3. Stocks To By

    December 7, 2012 at 11:12 pm

    Thanks for sharing your information. Lot of problem arises if economy fell down.

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