Debate Politics Forums - View Single Post - Pimco's Gross: Economy will need a trillion $ deficit

donsutherland1 · 07-04-08, 12:23 AM

For those who are interested, Senator Obama's campaign has rejected Mr. Gross's suggested $1 trillion deficit. In an interview conducted by CNBC host Larry Kudlow, Senator Obama's economic policy director Jason Furman dismissed Mr. Gross's suggestion.

The relevant excerpts follow:

Kudlow: What do you think about this bond guy – this is so fascinating Jason, I want to let you take a whack at this – famous bond guy Bill Gross of Pimco out in the West Coast. He’s posted this letter to Senator Obama, and basically he says we need a trillion dollar, a trillion dollar deficit, in order to stimulate the American economy. You’re an old hand on fiscal policy. What’s your response to Bill Gross’s recommendation to Senator Obama?

Furman: Well Larry, you know Senator Obama likes to listen to a wide range of voices and a lot of different ideas. [But] I think a trillion dollar deficit is a little bit outside of the range of advice we’re interested in getting. We want to cut the deficit from where it is this year, and that’s one of the important changes that should reassure people about our economic policy.

07-04-08, 12:23 AM	#9 (permalink)
donsutherland1 Moderator Mod team member Join Date: Oct 2007 Last Online: Today 08:58 PM Location: New York Posts: 2,467 Thanks: 814 Thanked 1,572 Times in 877 Posts Lean: Centrist Gender: Awards:	Re: Pimco's Gross: Economy will need a trillion $ deficit For those who are interested, Senator Obama's campaign has rejected Mr. Gross's suggested $1 trillion deficit. In an interview conducted by CNBC host Larry Kudlow, Senator Obama's economic policy director Jason Furman dismissed Mr. Gross's suggestion. The relevant excerpts follow: Kudlow: What do you think about this bond guy – this is so fascinating Jason, I want to let you take a whack at this – famous bond guy Bill Gross of Pimco out in the West Coast. He’s posted this letter to Senator Obama, and basically he says we need a trillion dollar, a trillion dollar deficit, in order to stimulate the American economy. You’re an old hand on fiscal policy. What’s your response to Bill Gross’s recommendation to Senator Obama? Furman: Well Larry, you know Senator Obama likes to listen to a wide range of voices and a lot of different ideas. [But] I think a trillion dollar deficit is a little bit outside of the range of advice we’re interested in getting. We want to cut the deficit from where it is this year, and that’s one of the important changes that should reassure people about our economic policy.