–Vice Presidential Nominee Ryan Assails Obama’s Economic Policies
–Says Fed Has Been ‘Trying To Bail Out’ Fiscal Policy
–Fears ‘Fusion’ of Fiscal, Monetary Policy in the U.S
By John Shaw
WASHINGTON (MNI) – Congressman Paul Ryan, the Republican vice
presidential nominee, slammed President Obama economic and fiscal
policies Friday, saying the “tepid” jobs report in August is the most
recent manifestation of flawed economic policies.
In an interview on CNBC, Ryan blamed the president for the nation’s
sluggish economic growth.
“This is not an economic recovery,” Ryan said.
“We are not getting the recovery he (Obama) promised,” he said.
He said the nation’s unemployment report has been above 8% for 43
consecutive months.
Ryan said he believes Friday’s employment report increases the
likelihood that the Federal Reserve Board will proceed with another
round of quantitative easing soon.
But Ryan said that he is concerned that the Fed is “trying to bail
out” bad fiscal policy. He said this is causing a kind of “fusion” in
fiscal and monetary policy.
“We need really good fiscal policy,” he said, adding that if he and
GOP presidential nominee Mitt Romney are elected they will push “pro
growth” fiscal policy and budget discipline.
“Our focus is growth,” Ryan said.
Ryan said he has high regard for Fed Chairman Ben Bernanke, but
differs with him on some economic issues. He said it’s not “appropriate”
for him to comment on whether Bernanke would be retained if he and
Romney are elected.
In a statement Friday, House Speaker John Boehner pounced on the
weak jobs report as another indication of Obama’s failed economic
policies.
He said Obama’s convention speech Thursday night was a “spirited
pitch for the failed status quo.”
** MNI Washington Bureau: (202) 371-2121 **
[TOPICS: M$U$$$,MFU$$$,MCU$$$]