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Chris
11-21-2012, 12:00 PM
Keynesian economics has been a failure, like socialism it looks nice on paper, but it fails to work, and Obama has been the best at implementing it.


...Since January 2009, when Obama took office, the United States has run cumulative budget deficits of $5 trillion. Before that time, debt held by the public was $6.3 trillion. Now it’s $11.4 trillion, an increase of 80%.

What did we get for it? Growth of 1.5% per year. As it happens, over the eight years of President George W. Bush, the economy averaged 1.6% economic growth, and the cumulative deficit was $2.4 trillion. Obama has more than doubled the W. deficits, while coming up short a tenth of a point of growth. What a horrible record.

The president’s current tax-increase push is, if nothing else, an admission that the stimulus efforts of his first term failed....

...You see how the Obama program is such a sorry testimony to the Democratic-Keynesian tradition. First he deficit spent, and big—and got no recovery. Now the poor man has to legislate tax increases, in that the lack of recovery means that no one is getting thrown into higher tax brackets on account of recovery-induced higher incomes. And given all the phase-outs for even modestly higher incomes, there’s plenty of progressivity in the tax code as it is.

Obama has got to be the most hapless Keynesian ever....

@ Obama: The Worst Keynesian Ever (http://www.forbes.com/sites/briandomitrovic/2012/11/20/obama-the-worst-keynesian-ever/)