Friday, September 7, 2012

Obamanomics explained

For quite some time, I have been trying to figure out the economic model that President Obama has in his head when he devises his ruinous economic policies.  I've been saying for years that his policies tend to be the opposite of what should be put in place, but that's because they were the opposite of the optimal policies that derive from my understanding of how the economy works.  I've had a tough time, however, trying understand how the President thinks his policies are meant to work.

Andrew Klavan has done a pretty good job of this, although I think he's incorrect in equating Obamanomics with Keynesian economics.  Certainly the two have in common the belief that economic stimulus can get an economy out of recession, but I suspect Keynes would be horrified to see how his name is being sullied to justify a government takeover of the private sector, not to mention the infinitely expanding budget deficit.