Economists see higher taxes as way to cut - Financial News

NEW YORK (AP) ? Economists say a combination of higher taxes and lower spending is the best path to reduce the federal budget deficit.

A survey on national policies conducted by the National Association for Business Economists released Monday also forecast that short-term interest rates will remain at current levels for at least 12 more months.

The economists say the Federal Reserve should not buy more bonds to stimulate the economy as it has in the last few years, although the policy has been effective. With the economic recovery strengthening, the economists say the Fed doesn't need to buy more bonds this year.

The Fed began buying Treasury bonds during the recession that followed the 2008 financial crisis to try to lower long-term interest rates and jump-start the economy.

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Source: http://finance.blogrange.com/finance-news/economists-see-higher-taxes-as-way-to-cut/

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