Watch CBSN Live

Will America Rebound Now?

Just a minute Harry Smith blog image CBS

By Harry Smith

If the mid-term election was about jobs and the economy, I'm seriously interested in how the rate of economic growth is going to accelerate. We know there are a number of companies sitting on piles of capital waiting to be put to work. Is the prospect of a gridlocked Congress enough to unleash all that cash? Some have suggested that one of the country's most pressing needs is infrastructure: highways, airports, telecommunications. Is a Republican Congress going to vote to spend billions to rebuild America? They certainly aren't going to raise taxes to pay for it. Would extending the Bush tax cuts -- yes, even to the very richest Americans -- be the kind of green light entrepreneurs and small business folk have been pining for? My theory: Money doesn't like sitting around. And my gut tells me it is itching to get back in the game. And it would have, no matter who won the election.

Just a Minute...I'm Harry Smith, CBS News.

View CBS News In
CBS News App Open
Chrome Safari Continue