Peter Ferrara at The American Spectator delves into Obama’s personification of the adage that insanity (and I think this also generally applies to stupidity and ignorance) means doing the same thing over and over and expecting a different result.
[E]conomic recovery and growth are not based on increased government spending, deficits and debt, a fallacy that Wall Street Journal senior economics writer Steve Moore has rightly labeled "tooth fairy" economics. That is because the money for such spending needs to come from somewhere, and so drains the private sector to the extent of such increased government spending, leaving no net effect at best.Really, we can’t afford four more years under a man who, putting things in even the most charitable light, can best be described as a sort of not-particularly-bright presidential apprentice. And I’m hoping that the American people will firmly reject the prospect of another term of Epic Suck this November.
What drives economic recovery and growth are incentives for increased production, as Reaganomics proved. Obama's assault on such incentives by raising virtually all federal tax rates this January 1 is why trillions are sitting on corporate and bank balance sheets, and America is suffering a capital strike and capital flight. If demand was inadequate, prices would simply fall to clear the market. The result would not be the perpetual stagnation and depression we have seen under Obamanomics.
Update: Why is this man smiling?