facebook
twitter
rss
account
search
search
 

Wall Street looking for more than budget from Washington

Dec. 15, 2013 at 2:18 PM   |   Comments

WASHINGTON, Dec. 15 (UPI) -- Two former presidential budget officials Sunday urged Congress to be more consistent as a way of improving the economy.

Consistency and progress on issues including tax and entitlement reform and immigration would restore a sense of certainty, particularly on Wall Street, that would lead to eventual improvement in employment, they said.

Douglas Holtz-Eakin, director of the Congressional Budget Office under President George W. Bush, said on CNN's "State of the Union" that the tentative agreement on a new budget was a step in the right direction, but was not entirely convincing to the financial industry. "Economic policy by symbolism is not a powerful thing," he said.

Holtz-Eakin said permanent reforms would be more impressive to Wall Street.

Peter Orszag, former CBO director under President Obama, said the symbolism of the budget deal could actually be more constructive than predicted because it showed Washington was not completely paralyzed. "We have not shot ourselves in the foot," he said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Pope Francis condemns 'hostile inflexibility' within the church Pope Francis condemns 'hostile inflexibility' within the church
2
Elizabeth Warren continues chanting: 'The game is rigged' Elizabeth Warren continues chanting: 'The game is rigged'
3
Eric Frein manhunt refocuses after possible sighting Eric Frein manhunt refocuses after possible sighting
4
Sweden continues search for suspected Russian submarine Sweden continues search for suspected Russian submarine
5
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
Trending News
Around the Web
x
Feedback