Tag Archives: obamanomics

Re: The “master jugglers” of the federal government

Quoting George’s link: The classical economists and many modern day political economists argue that due to the negative consequences of “juggling” we need to establish binding rules that curtail such behavior on the part of governments. Keynes, or more accurately Keynesians, broke with this tradition of constraining public authorities and binding them by rules. TheyContinue Reading

Headline we won’t see: Obama’s Keynesian stimulus fulfilled its promised of 5% unemployment

You remember the graph, right? The chart that proved the incoming Obama administration had the plan to save the economy (which received the coveted White House Press Corps Prize for economics!), and all it needed was nearly a trillion dollars in “stimulus” funds? The chart that showed how with the stimulus, unemployment would not exceedContinue Reading

Re: What Obama doesn’t get about economics

When I read the title of George’s post, I thought he was just going to post a graphic, like this: Which would have sufficed but would not have achieved the worthy service of passing along Sheldon Richman’s column today. As to the title topic, the Hill blog today opens with a very telling admission byContinue Reading

National Review mocks Obama’s abuse of the Founders

I’m not the only one to notice that Barack Obama’s speeches tend to begin first by referencing the ideals of the Founders, then after having imitated the soaring rhetoric of past American luminaries, changing the focus to make it sound as if the next step for American liberty is to become a socialized nanny state.Continue Reading

Media economists predictably blindsided

Nothing new in this report, of course. It’d be almost funny, if people’s lives weren’t affected by this continued folly: U.S. economic growth was more tepid than previously estimated in the first quarter, held back by a moderate pace of consumer spending, weak business investment and declining exports. Gross domestic product expanded at a 1.8Continue Reading

Obama’s exorbitant green jobs put Reagan’s scandalous toilet seats to shame

Do you remember when the media were apoplexed by reports that the Defense Department during the days of Reagan were spending hundreds, hundreds of dollars on porcelain throne lids? USA Today does, or did when former Defense Sec. Caspar Weinberger died. For those who don’t, yes, there have been times when media were offended byContinue Reading

The Obamacare jobs report: sudden spike in ‘involuntary part-time workers’

Unlike the media True Believers, I cannot cheer a four-year low in unemployment that is far above the predicted level of unemployment if Congress hadn’t passed Obama’s failure of a “stimulus” in 2009 statistically helped by the fact that so many potential workers have abandoned the labor force — if the labor force participation rateContinue Reading

Obama tacitly admits: the stimulus WAS a colossal failure

He will not say so in words, nor will the media dare report it, but the president’s budget slams the door hard on the belief that the Keynesian stimulus would save the economy. When I say hard, I mean permanently: In 2009, Obama economists predicted the unemployment rate — if Congress passed the $800 billionContinue Reading