Update on "The Now Famous Chart"

Previous blog entry: The Now Famous Chart

Comment: OK ... now here it comes!

Romer upbeat on US economy

Excerpt:

Ms Romer said stimulus spending was “going to ramp up strongly through the summer and the fall”.

“We always knew we were not going to get all that much fiscal impact during the first five to six months. The big impact starts to hit from about now onwards,” she said.

Ms Romer said that stimulus money was being disbursed at almost exactly the rate forecast by the Office of Management and Budget. “It should make a material contribution to growth in the third quarter.”

Comments: I was taking to a very wealthy retired man late last week - One of the very few millionaires I know. His view is that the Obama administration's policies (cap and trade (House approval only so far), health care reform (yet to be passed)) are all going to be sucking $$ out of the economy. Businesses, in his view, are afraid to hire because of uncertainty about upcoming taxes and the effects on the economy.