I don’t know if the rumors are true, but word is that Obama plans to push for even more spending, in his State of the Union address this week. If so:
This constitutes proof that Obama is clueless, at best. You’d think he was listening in the last election, but apparently not. The hallmark of a true liberal is that they are certain that they know better than you do what is good for you – and you’re going to get it whether you want it or not.
Or, possibly, he is simply a religious believer in Keynesian economics, despite the clear failure of his Keynesian policies so far (and every other time in history that they’ve ever been tried). (1)
What do you call it when a person tries something, fails, and keeps trying the same thing again and again? (Surely this time it will work!).
No, there may be a third alternative: the possibility exists that Obama really is trying to bankrupt the U.S.A. He is darned close to doing it. From his own rhetoric, Obama most certainly wants everyone to be on the same level playing field – and if you can’t make everyone rich, the alternative is to make everyone poor. The same is true of nations as well as people; and Obama has certainly demonstrated his belief that the U.S.A. is just another nation and not anything special.
I don’t know what is in his mind, but his actions have demonstrated that Obama is not working to my best interests, or yours.
(1) Keynesian economics has the same flaw as a perpetual motion machine. Perpetual motion machines are based on the idea that a machine can generate enough energy to power itself, indefinitely. Friction and energy loss in the machine eventually causes this to fail.
Same thing is true of Keynesian economics; it’s based on the idea that government spending generates wealth. In reality, all it does is move wealth around; without wealth injection from outside the “machine” it is doomed to fail, both due to the inefficiency of government overhead (friction), and the fact that taxes required to generate that injection act to suppress actual generation of the wealth required to keep the machine in motion. A government employee cannot pay enough taxes to pay his own salary. Fail. Wealth does not come from the government. Government stimulus ultimately fails because of efficiency losses in returning tax revenue to those who generated it in the first place. The most effective “stimulus” is to leave the money in the pocket of the worker.
On the other hand, pure capitalism does work, as long as there are available raw resources for producing wealth. (But, capitalism fails – when government starts trying to regulate it. This has caused every depression we’ve had. The liberals hate Ayn Rand, but she nailed this one on the head.)