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Obama picks a progressive lawyer for top economist -- we're published in today's American Thinker
Howard Richman, 2/3/2011

Here's how we conclude:

We are a nation blessed by God with almost unlimited resources and a Constitution that encourages and protects the right to innovate. If we pay for Social Security out of the general budget because it is "progressive," if we let China manipulate our trade, because cheap imports from China are "progressive," then we condemn ourselves to a future of unstoppable budget and trade deficits. On the other hand, if we balance budgets and trade, our economic future is unstoppable.

When the book about President Obama's presidency is written, it will be noted that he did not have the discernment to distinguish competent from incompetent advisors. The Director of the National Economic Council does not have to be an economist, but he/she should not have such glaring gaps in economic understanding.

To read it go to: http://www.americanthinker.com/2011/02/obama_picks_a_progressive_lawy.html

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    Wikipedia:

  • [An] extensive argument for balanced trade, and a program to achieve balanced trade is presented in Trading Away Our Future, by Raymond Richman, Howard Richman and Jesse Richman. “A minimum standard for ensuring that trade does benefit all is that trade should be relatively in balance.” [Balanced Trade entry]

    Journal of Economic Literature:

  • [Trading Away Our Future] Examines the costs and benefits of U.S. trade and tax policies. Discusses why trade deficits matter; root of the trade deficit; the “ostrich” and “eagles” attitudes; how to balance trade; taxation of capital gains; the real estate tax; the corporate income tax; solving the low savings problem; how to protect one’s assets; and a program for a strong America....

    Atlantic Economic Journal:

  • In Trading Away Our Future   Richman ... advocates the immediate adoption of a set of public policy proposal designed to reduce the trade deficit and increase domestic savings.... the set of public policy proposals is a wake-up call... [February 17, 2009 review by T.H. Cate]