Romer: New spending can be paid for with cuts in the future
Departing White House economist Christina Romer says the government has the tools for bringing down unemployment, but policymakers need to find the will and wisdom to use them.
Romer called on officials Wednesday to move forward on policies that will increase government spending and cut taxes. She also called for investments in infrastructure and new trade agreements.
Romer said that while some new policies should be viewed as emergency measures, most should be paid for with future spending cuts or revenue returns. She said concerns about the mounting deficit should not be used as an excuse "for leaving unemployed workers to suffer."
Romer is leaving her post as head of the Council of Economic Advisers to return to the University of California, Berkeley, as an economics professor.
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