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The Fed’s stimulus program will be analyzed for years to come, but so far, it has accomplished relatively little in terms of stronger growth and job creation. Now it has trillions of dollars in debt securities that it must sell over time, a process that poses its own financial risks to our economy.

Meantime, our economy remains sorely in need of a strong pro-job, pro-capital investment, pro-growth tax-reform policy. That’s not going to happen as long as Barack Obama is president and Congress remains politically divided.

Donald Lambro is a syndicated columnist and contributor to The Washington Times.