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Keyword: voodooeconomics

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  • The Traveling Obama Show

    04/22/2011 5:36:10 AM PDT · by IbJensen · 11 replies
    American Spectator | 4/22/2011 | Andrew Cline
    In the first few moments of his speech at Northern Virginia Community College on Tuesday, President Obama gave the game away. He said he ventured to the campus, a mere 17 miles from Washington, to "get out of the immediate environs of Washington and hear directly from voters and have a conversation with them." Voters? The election is 19 months away. The government's collision with its debt ceiling is about one month away, maybe less. How is Obama spending the first of the four weeks (if that) he has left before the government -- over which he allegedly presides --...
  • Rep. Scott: Taxing Those At $100,000 And Up at 100% Will Not Get Us Out Of This Year’s Deficit

    04/16/2011 1:18:06 PM PDT · by IbJensen · 7 replies
    CNS News ^ | 4/14/2011 | Eric Scheiner
    “The President tries to tax, to tax our way out of debt -- placing the burden on those earning more than $100,000,“ Rep. Tim Scott (R-S.C.) said on the House floor Thursday morning. “The problem, sir, is a simple one -- that if we were to tax these individuals 100 percent of their income, we still could not cover our deficit this year alone. As a matter of fact, to tax our way out of debt we would need to increase taxes across the board on every man, on every woman and every business by 60 percent. You simply cannot...
  • Obama: Voters to decide who caused 'this mess' - 'my policies...got us out of this mess'

    07/16/2010 2:41:32 PM PDT · by seanmerc · 60 replies · 3+ views
    Google hosted news ^ | 16 Jul 10 | AP
    WASHINGTON — President Barack Obama acknowledges that the fall elections could amount to a referendum on his stewardship of the nation's affairs. [SNIP] But he also says the midterm congressional elections could come down to "a choice between the policies that got us into this mess and my policies that got us out of this mess."
  • Obama's Voodoo Health Economics

    06/04/2009 8:43:09 PM PDT · by St. Louis Conservative · 6 replies · 483+ views
    The Wall Street Journal ^ | June 5, 2009 | Betsy McCaughey
    On Monday President Barack Obama's Council of Economic Advisers released a report called "The Economic Case for Health Care Reform." The report argues that Americans must curb their consumption of medical care in order to avoid soaring federal deficits, unsustainable burdens on family budgets, and damage to the economy. All of these claims are untrue. - Federal deficits. The White House report makes the argument that there must be controls on what all Americans spend on health care in order to avoid government programs running huge deficits. Secretary of Health and Human Services Kathleen Sebelius uses the same faulty logic,...
  • Macroeconomics 'Experts' Apply Astrology, Not Science (Economic “experts” are no experts at all)

    01/31/2009 8:39:58 AM PST · by SeekAndFind · 19 replies · 583+ views
    RealClearMarkets ^ | Jan 30,2009 | Frank Tipler
    <p>In the early 1980’s, the Wall Street Journal asked liberal economist John Kenneth Galbraith and conservative economist Milton Friedman to predict the macroeconomic trends over the next two years. Both agreed that inflation would rise above 10%, and both accused the other of obtaining his prediction by reading chicken entrails. Both were wrong about inflation, but both were right about the chicken entrails.</p>
  • The Wonder of Voodoo Economics

    06/20/2006 5:56:52 AM PDT · by blitzgig · 28 replies · 1,017+ views
    National Review ^ | Rich Lowry
    Who says you can’t cut taxes, increase spending, and reduce the federal budget deficit all at the same time? That’s what the Bush administration has managed to do. Two decades after then-presidential candidate George H.W. Bush characterized Ronald Reagan’s idea that tax cuts would spur revenue-generating economic growth as “voodoo economics,” the witch doctor is again at work. When President Bush pledged in 2004 to cut the deficit in half by 2009, critics guffawed. The Boston Globe headlined a story, “Bush’s plan to halve federal deficit seen as unlikely; higher spending, lower taxes don’t mix, analysts say.” “Fanciful,” “laughable” and...
  • Corporate America's vanishing allegiance

    04/21/2006 5:02:43 AM PDT · by FerdieMurphy · 40 replies · 892+ views
    Sierra Times ^ | 4/20/2006 | Chris Adamo
    The European Union is in tatters, which admittedly is not a bad thing. Yet the particular reasons for its continuing collapse portend a dark future for the continent that once defined Western Civilization. In short, the EU represented a futile attempt to forge a multi-national consensus on almost purely economic terms, purposely devoid of past loyalties to individual nationalism or any vestige of spiritual truth. As a result, each entity within the power structure is left vying for power, or more accurately, economic dominance, with little or no consideration for those antiquated ideals of morality or principle. However, no great...
  • US economy grows 3.9% in third quarter [Lowest Inflation Since the 1960s]

    11/30/2004 6:14:01 PM PST · by conservativecorner · 26 replies · 941+ views
    Financial Times | Nov. 30, 2004 | Andrew Balls
    Strong consumer spending and business investment and a slightly lower than previously reported trade deficit meant the US economy grew at a 3.9 per cent rate in the third quarter, the Commerce Department said. The upward revision from the 3.7 per cent advance estimate was above consensus expectations and represented a rebound from 3.3 per cent growth in the second quarter. Core personal consumption expenditures inflation, excluding food and energy, the Federal Reserve's preferred measure of inflation, was unchanged at a 0.7 per cent rate in the quarter - the lowest reading since the 1960s. The report provided further support...
  • It's not the President, stupid (EXCELLENT!!)

    10/22/2003 7:07:15 AM PDT · by harpu · 14 replies · 287+ views
    www.townhall.com ^ | 10/22/03 | Jonah Goldberg
    Remember "voodoo economics"? The phrase comes from the first President Bush. During the 1980 Republican presidential primaries, the current president's father famously denounced Ronald Reagan's supply-side economics as "voodoo economics." What seemed like exotic hocus-pocus to the elder George Bush was the idea that if you cut taxes, people might work more, and hence earn more, which would then result in higher tax revenues. I never understood why Bush thought this was akin to Haitian head-shrinking and black magic.Regardless, voodoo economics became known as "Reaganomics" once the Gipper was elected and the terrible 1980-1982 recession kicked in. Today it's difficult...
  • Tax Cuts Working, Bad News For Left

    09/30/2003 4:21:11 PM PDT · by jmstein7 · 10 replies · 187+ views
    EIB ^ | September 30, 2003 | Rush Limbaugh
    This is not going to please Jonathan Chait of The New Republic who has admitted that he hates George W. Bush. This is from an Associated Press story, "Flush with extra cash from tax cuts, America's consumers treated themselves in August and spent with gusto, which is good news for the economy's revival. Many analysts believe that the economy is growing at a rate in excess now of 5% in the current quarter…" This AP writer, Jeannine Aversa, whether she knows it or not, has now linked the Bush tax cuts to rapid economic growth, which Jonathan Chait at the...
  • `Dynamic' Scoring Finally Ends Debate On Taxes, Revenue

    04/01/2003 12:35:14 PM PST · by Steve Schulin · 29 replies · 2,539+ views
    Wall Street Journal | April 1, 2003 | Alan Murray (CNBC)
    DO TAX CUTS pay for themselves? That's been the hot debate of American political economy for the better part of three decades. But it ended last week -- with a whimper. The great argument got its start in 1974, when a White House chief of staff named Donald Rumsfeld sent his deputy, Richard Cheney, to have lunch with an ebullient young economist named Art Laffer and his journalistic sidekick, Jude Wanniski. According to local lore, Mr. Laffer sketched a curve on a cocktail napkin suggesting that a cut in income taxes could provide such a spark to the economy that...