Income Inequality Up as a Result of ‘Policies We’re Pursuing to Jumpstart the Economy’
Bill McMorris
The Washington Free Beacon
8/21/2013
An Obama appointee and the CEO of Pacific Investment told a crowd at the National Press Club that Obama’s economic policies have fostered income inequality and that political squabbling is stalling economic recovery.
Mohamed El-Erian, CEO of Pacific Investment and chairman of the White House Global Development Council, blamed the administration’s reaction to the Great Recession for increasing income inequality. Rather than launching vast infrastructure projects to put people to work, the government has created a larger supply of money using quantitative easing (QE)…
- Easy money policy has fueled a surging stock market that does not reflect true value of America’s economic production
- Weak recovery will continue without major reforms to tax code and entitlements
- Experts criticized politicians for failing to achieve structural reforms to tax code
The article continues at The Washington Free Beacon.
