Monday, February 28, 2011

Budgeting week by week seems fine to me

“We want to make sure that this continuing resolution that is worked out allows enough time for the negotiations that need to take place to produce a continuing resolution that takes us through the whole fiscal year, because what we believe is that if we keep returning to this process every couple of weeks that will be bad for the economy because of the uncertainty it creates and the tension around that,” Mr. Carney said.
WSJ

The Senate got us into this problem, so I say, keep them working 24/7 and manage the budget week by week. The economy remans in a contracted condition, that means we are all bunched around the short end of the curve. Overall, the transaction rates are lower, but the focus is on the short end. Congress has two choices, reform or focus on the short end.

No comments: