January 30th, 2009
09:42 AM ET
9 years ago

Energy, economy create balancing act for Obama

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/TECH/science/01/30/obama.climate.change/art.Obama.climate.gi.jpg caption="President Barack Obama with Transportation Secretary Ray LaHood and EPA Administrator Lisa Jackson."]
(CNN) - Environmentalists are encouraged by President Barack Obama's focus this week on renewable energy and stricter emissions standards, although some economists are skeptical he can pull the country out of the recession while cleaning up the planet.

Obama must strike a careful balance between stimulating the economy in the coming months and investing in the long-term future of the environment, said Raj Chetty, professor of economics at the University of California, Berkeley.

"If you spend money too quickly, you lose site of the long-term vision," Chetty told CNN. "If you focus too much on the long term, you may not act on spending money."

Full story


Filed under: Economy • Energy • President Obama
soundoff (No Responses)

Comments are closed.