Reality Bites: Higher Taxes, Fewer Govt. Services Coming

In his first address to a joint session of Congress last night, President Obama called for expensive and broad efforts in three major areas — energy, health care and education. He also suggested government bailouts are far from over.

In short, Obama outlined a broad, ambitious overhaul of domestic policy after eight years under President George W. Bush. Will the blueprint work?

Our guest Joe Brusuelas, director of market economics for Moody’s, so far likes what he has heard, saying now is the time for decisive leadership on spending issues. And that’s a compliment coming from Brusuelas, who publicly had supported Senator John McCain.

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