Prof.Martin Feldstein at Harvard,former Chairman of CEA from 1982-84 wrote the article with the theme of "The US should wait until there is a global agreement on C02, that includes China and India."
The Obama administration and congressional Democrats have proposed a major cap-and-trade system aimed at reducing carbon dioxide emissions. Scientists agree that C02, emissions around the world could lead to rising temperatures with serious long-term environmental consequences.
Fareed Zakaria,editor of Newsweek wrote:
"Around the globe, markets are humming. China's Shanghai index is up 45%. Retail sales in China rose 15% in the first quarter of 2009. The United States remains the world's richest and most powerful country. Its military spans trhe globe. But since the Spanish empire of the 16th century, the fortunes of great global powers have begun to turn when they get overburdened with debt and stuck on a path of slow growth.
Robert Samuelson, a columnist wrote:
The Congressional Budget Office estimates federal spending in 2019 at 25% of GDP, well up from the 21% in 2008.
Bill Frogale wrote letter to the Editor on page A14:
A sales tax or VAT is easily avoided by simply not purchasing as many consumer goods. That is exactly the behavior that we wish to discouraged,both now and after the recovery is well underway.
Consumption is to be encouraged in USA and in China.. That is supposed to be the common goal for global financial recovery. But that remains to be seen.
Francis Shieh aka Xie Shihao citing the above epigram for readers on Monday,June 1, 2009 at 7.58 a.m.
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