Happy Friday folks,
In its meeting earlier this week, the Federal Reserve maintained its pessimistic economic outlook for the next few years. According to Neil Irwin of The New York Times’ Upshot, “The pattern over the last four years has been this: The Federal Reserve forecasts stronger growth right around the corner; it doesn’t materialize; the Fed downgrades its forecasts.”
With economic pessimism abound, what are middle-class Americans stuck in Obama’s economy supposed to do?
Luckily, conservatives have an opportunity to develop policies that directly confront economic woes facing the middle class.
Ramesh Ponnuru of National Review Online recently argued that middle-class families need both tax relief and economic growth. Specifically, he notes that expanding the child tax credit would “change the tax code to make government policy less distortive of family life,” and that such a policy move is an investment in the next generation.
Innovative policies like expanding the child tax credit can be found in YG Network’s Room To Grow. If ideas like these are adopted, perhaps the Federal Reserve will get a little more rosy in their economic outlook.
Seize the day.