More studies debunking Obamanomics
And surprisingly, they keep coming from liberal California universities.
If you recall, the other day Michelle Malkin shook the dust off a 2005 UCLA study that found FDR’s massive economic recovery plan, The New Deal, actually prolonged The Great Depression. Still, Obama disregards such science and claims economists “from across the spectrum” agree that massive government spending is the only thing that can revive this economy.
Okay, well maybe he just thinks the conclusions reached in that study were wrong. Perhaps if there were others proving his plan (for which we’ve seen virtually no details, but he keeps assuring us it exists) wrong, maybe then he’d wake up and see the fallacy of his thinking.
Well, here’s a post on The American Thinker describing two studies, one from UC Berkeley and the other from UC San Diego, that conclude tax cuts produce more than twice the growth in GDP than government “stimulus” spending.
So we have three studies conducted by liberal universities in the solid blue state of California all concluding that a conservative approach to stimulus–primarily tax cuts–is more than twice as effective in accomplishing its goal than is a liberal approach–namely government spending.
History and economics tell us Obama’s strategy won’t work, but he’s charging ahead. Promising trillion dollar deficits (yes that’s $1,000,000,000,000) for the foreseeable future, but saying the alternative is really bad. His own economists have stated their predictions for growth can’t be trusted, but “The Smooth Talker from Chicago/Hawaii/Kenya/????” is dead set on pursuing this perilous path.
I’m afraid we’re in for a long, hard ride.
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