Skip to comments.Using the White House’s Own Benchmark, I Give Obamanomics an F
Posted on 08/08/2012 6:11:31 AM PDT by Kaslin
I almost feel sorry for the ideologues and partisan hacks who feel obliged to defends Obamas miserable economic performance.
Keynesian spending policies and class-warfare tax policies have produced dismal economic performance, with unemployment stuck above 8 percent even though the White House promised the joblessness rate by this point would be about 5.5 percent if we squandered $800 billion-plus on the so-called stimulus.
Yet Keith Boykin gamely tries to put perfume on this hog in our debate on CNBC.
Notice that I began this post by saying I almost feel sorry for the spin-meisters who defend Obamanomics. But almost is the key word in that sentence. I reserve my genuine sympathy for the millions of people who cant find jobs because of the Presidents destructive policies.
Dan Mitchell Debating Obamanomics on CNBC
Let me add a few comments.
Boykin tries to disavow the Romer-Bernstein report and pretend that the President didnt highlight and promote its claims when pushing for the faux stimulus. Thats a remarkable bit of revisionist history and I think I was effective at tying that rotting fish around his neck.
Keith also highlights the relatively good performance of the Clinton years. As Ive done before, I announce that wed be much better off with the Clinton tax rates but only if we also get rid of all the reckless spending and regulation of the Bush and Obama years. I thinks thats an effective point to make, but I confess I dont have any feedback one way or the other to indicate that its a persuasive argument.
The most revealing point of the interview is when the host incredulously remarked to Keith that you think we should have bigger government.
But if anybody thinks that its a good idea to increase the burden of government spending, then they need to explain why America will be better off if we make our country more like Greece and France.
Last week, I shared some numbers from the left-wing OECD which showed that living standards are much higher in the United States than they are in Europes welfare states. That is what this fight is all about.
A reminder of 0bama's total incompetence free with ever fill up!
To put a positive spin on this abysmal failure in the White Hut is akin to picking up a turd from the clean end.