What will his plan be? More failed government spending, a la the failed stimulus bill, which mostly went to plug state and local government deficits instead of creating jobs? The Federal Reserve can't do much more. Well, Governor Kasich has some genuine advice for the president. It makes sense, and could probably get bipartisan support in Congress. Watch the video from his recent appearance on Fox.
One idea I had that they want to think about - there is expected to be about a trillion dollars that companies have in profits that are sitting outside of America. And a lot of these companies would like to bring this money home but the tax rates are so high that they instead are investing in places other than America. I think the notion of letting them bring that money back here at either a low tax rate or maybe a one-time pass on that would be a stimulus plan that would make some sense. It doesn’t involve public money, it involves the money that the companies have made, the profits they could bring back and re-invest and maybe improve their workforce; to buy plants and equipment and things like that. And give them a greater sense of confidence so they are willing to jump in.Will President Downgrade embrace ideas such as this? Or will he engage in more childish, political games like he did when he tried to schedule his speech at the exact time as the GOP primary debate?
I'm betting that we will see more of the same from the president who caused a downgrade in America's credit rating, instead of taking some advice from a governor who upgraded the credit rating outlook of his state.
We shall see.