Omaha Public Radio News
Thu November 19, 2009
Economic recovery coming slowly, according to Wall Street Journal columnist
By Katie Knapp Schubert
Omaha, NE – An economics writer for the Wall Street Journal expects the economy will recover, but not as well as it has in the past.
Stephen Moore spoke Tuesday in Omaha at the Greater Omaha Chamber of Commerce's annual economic outlook luncheon. Moore joined the Wall Street Journal in 2005 after spending several years working for government and policy groups. Moore says there are three things the U.S. can do to spur economic recovery. One is to impose a flat tax. The second is to make the dollar "the gold standard." Third, according to Moore, is to put a cap on federal spending while the budget is re-balanced.
Moore says it's hard to tell how the economy will fare one year from now. He says inflation is possible because of an increase in the money supply. When there's more money in the supply then there is demand for products, it creates inflation.
Moore points out that while President Barack Obama inherited an economic crisis upon taking office, it isn't the worst or longest crisis the country has ever faced.
You can hear Moore's entire keynote address on an upcoming Noon Forum on Omaha Public Radio.