Obamanomics: $1.4 Trillion in More “Stimulus”

The U.S. economy is struggling. More than two years after the end of the recession, unemployment is stuck at more than 9 percent. Analysts are lowering their estimates of growth, which they now forecast will be even slower than the disappointing pace of 2011’s first half.

Obama’s approach is to double-down on the failed strategy that brought the U.S. to this point. More temporary tax breaks, targeted at favored constituencies. More infrastructure spending, destined to arrive in time for the 2014 midterm elections. More bailout dollars for states. Another destined-to-fail layer on the labyrinthian federal jobs-training program. In short, more than $400 billion — and another partisan fight in Washington.

Why not try a new direction in economic policy? There is bipartisan consensus that the private sector — not the government — is the key to more jobs and faster growth. Obama is on record saying the private sector needs to be “the main engine of job creation.” Similarly, House Speaker John Boehner and Majority Leader Eric Cantor argue that “we must dedicate ourselves to pro-growth policies that help create middle-class jobs, make it easier for existing businesses to thrive and allow more start-up companies to flourish.”
http://www.bloomberg.com/news/2011-10-07/new-1-4-trillion-u-s-stimulus-is-in-sight-douglas-holtz-eakin.html

“The private sector — not the government — is the key to more jobs and faster growth.”
Gee, what a concept. Too bad the Keynesian socialist assclown in the White House is diametrically opposed to it.

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