"The Big Fix" (Opinion, Dec. 29) consists of articles by four economists who all endorse two questionable premises: The economy needs fixing and the president is responsible for its year-to-year fluctuation. Is this diversity of opinion? I think not.
The collective opinion of investors is the primary driver of the economy, not the president. If any single governmental institution has a lot of short-term influence on the economy, it is the Federal Reserve. As for the budget, it is more of a congressional responsibility.
It is remarkable that the authors remain pessimistic in the face of favorable numbers on growth. There is a remaining problem with unemployment, but this is normal. Employment usually lags behind other areas in a recovery. These economists should get a grip on reality. This is just another business cycle. Presidential magic did not get us out of the last recession, and it is not needed to make the sun rise tomorrow.
I found the solutions presented by the four economists to be a bit stale and lacking in creativity. None of the economists noted that the U.S. economy is the base for one of the most materially extravagant lifestyles ever to exist. Concern about a 3% or even a 2% growth rate for such an economic engine should not allow our political leaders to become deadlocked in debates about tax cuts and deficit spending.