CBS's Smith: How Can Government 'Unleash the Economy And Not Spend Any Money'?
Thursday's CBS Early Show, co-host Harry Smith saw Republican goals to
limit government spending as antithetical to improving the economy: "How
do you unleash the economy and not spend any money, oh, by the way,
because that's the other mandate, is don't increase the deficit and
don't - don't - 'I don't want one more cent of tax on me.'"
Smith put the question to Time magazine Washington deputy bureau chief Michael Crowley, who was equally skeptical: "I think it may be impossible, frankly. What Democrats would like to do is they would say you actually have to spend more money, have the government put money into the economy to get it moving again." He warned against conservative policies: "Republicans say we're spending too much, maybe cut taxes, but tax cuts aren't free, either, tax cuts increase the deficit. Maybe you could loosen regulations but you saw what happened on Wall Street when things were deregulated. It's really not as simple at this point as doing any of those things without taking a big risk that comes along with it."