Well, the proof is in the pudding, they say. Here’s the pudding: the economic growth rate of the United States has declined to 1.6% under Obama – and Democrat – economic guidance.
That number needs to be around 3% just to add enough jobs to keep up with population growth. Unemployment will get worse before it gets better. And even that assumes that companies now in business will stay in business. It could possibly be much worse, soon – though I hope not.
The empirical truth is that the Keynesian economics as practiced by this administration has failed, demonstrably, publicly and painfully. And the Democrats continue to want to throw more (borrowed) money at it!
One sign of insanity is repeatedly trying to do something that you already know doesn’t work. “Well, maybe it’ll work THIS time!”. But the fact is, every single time in history that Keynesian economics has been tried, it has failed; and it was destined to fail this time, too.
Democrats want to continue their horribly irresponsible spending, in essence writing hot checks to pay for toys for their friends and political allies, and it is a very dangerous path to go down. A few of the Democrats are dimly becoming aware that this strategy will not get them re-elected in November, and are making noises as if they are backing away from it. But I think that this time, Americans are going to remember what’s been going on – because for the first time in my life, most of us are paying attention to what goes on in Washington. Because mismanagement there hurts.
When you get right down to it, it is essential for our future survival to go back to capitalist principles that we know work, so we can get some profitability going, and thus increase employment opportunities. Capitalism has served us well since the foundation of this country.
Capitalism has never failed unless the government got involved and started dinking with it. (For an example, see Obama, Acorn, government intervention in the housing loan business that caused the current doldrems, etc., etc.).
Obama’s massive experiment in redistribution, socialism, whatever you want to call it – is over. FAIL!
Time to change horses…