Economist Christina Romer, outgoing chairwoman of the Council of Economic Advisers, said in her final speech as a part of the Obama administration that the economic recovery needs to be supported by tax cuts and increased government spending. "While we would all love to find the inexpensive magic bullet to our economic troubles, the truth is, it almost surely doesn't exist," she said. That means the U.S. economy is on a dangerous path, according to The Economist. With a possible exception of a payroll-tax cut, there is little chance Congress will adopt additional stimulus this year.
Published in Brief: