US Needs to See Tax Structure 'Revamp': Economist

America eventually needs to see a complete overhaul of the tax system in the U.S., said Diane Swonk, chief economist and senior managing director at Mesirow Financial. She shared her insights on the economy.

“I’d like to see a whole revamping of the tax structure to deal with deficits much more broadly,” Swonk told CNBC.

“You don’t want to add any insult to injury in an already fragile recovery—this is a very different situation than in 2003.”

In addition, Swonk said Main Street and markets are unsupportive of any more large-scale programs from the Obama administration.

“We really can’t afford it,” said Swonk.

Scorecard—What She Said:

  • Swonk's Previous Appearance on CNBC (Sept. 3, 2010)

More Pros on Obama:

CNBC Data Pages:

CNBC Slideshows:


Monday's Top Dow Gainers (As of Noon):

American Express

Home Depot

JPMorgan Chase


United Technologies


No immediate information was available for Swonk or her firm.