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Policies set to clash in Washington

Business Times - 05 Nov 2010

PERPESTIVE
Policies set to clash in Washington

A potentially gridlocked legislative process could retard the economic recovery and hurt business

By LEON HADAR
WASHINGTON CORRESPONDENT

ON THE same day that the US Federal Reserve launched a new round of quantitative easing, as it announced its plan to buy US$600 billion worth of government securities through the middle of next year, President Barack Obama and Congressional leaders were facing their first post-midterms economic-policy challenge: Should they extend the tax cuts that were passed under president George W Bush and that are set to expire at the end of the year?

The newly elected Congress where Republicans will control the House of Representatives and increase their numbers in the Senate will not convene until January next year.

This timeline is forcing the current Democratic-controlled Congress and the White House to make a difficult choice and demonstrate the way that a potentially gridlocked legis…

On the Tea Party and foreign policy on the Huffington Post