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July 26, 2009
Our 'Know-Nothing-in-Chief '
Topics: Political News and commentariesAs Fred Barnes suggests at the Weekly Standard, there's no evidence Obama has even a sketchy grasp of economics. While Obamanomics pays lip service to a free market economy, Obama hasn't a clue as to what makes it work.
Take for example, Obama-think on clean energy, union growth, and government intervention in the economy:
[...] Listen to Obama talk about making "clean energy the profitable kind of energy" and you reach the same conclusion: When it comes to economics, he doesn't get it. His "cap and trade" policy would limit carbon emissions, drive up the costs of gasoline, electricity, and natural gas, and stifle the economy. Only then would green energy become profitable (maybe) and only so long as it continued to receive a massive government subsidy. You can't get much more uneconomic than that.Read it all.But maybe Obama can. He wants to eliminate many deductions for upper middle class and wealthy taxpayers. He's eager to spur the growth of unions, though success here is likely to slow the rate of growth and increase the rate of unemployment. He wants government to intervene more aggressively in the economy, a reliable job killer. He's asked for authority to seize any financial institution deemed (by his administration) a "systemic risk" to the economy. He thinks government can teach the private sector lessons in efficiency. That would be an historic first. He believes his budget, which triples the national debt, "lays the foundation for a secure and lasting prosperity."
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Posted by Richard at July 26, 2009 11:30 AM
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