At time when American adults are becoming less optimistic over their financial well-being, one Houston economist is bullish on the future. John Bott of Parallax Investments thinks efforts by the White House and Congress to cut red tape are pushing us in the right direction.
“Right now the regulatory environment is holding back the economy tremendously,” Bott says, “so, without the tax cuts at all, we could see a fairly strong economy.”
The message on the economy is mixed right now. While those adults worry about their finances, the number of bankruptcies is way down and the average American's credit score just set an all-time record when it reached 700.
Now, if we could just get rid of those federal regulations.
“They're going to start going after Dodd-Frank this week,” he says, “so, if they're going to start going after regulations, you could see an explosion.”