In an op-ed titled, "Why Obamanomics Has Failed," economist Allan Meltzer explains what's wrong with the economic policies of President Bow n' Tax:
The administration's stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible.
Two overarching reasons explain the failure of Obamanomics. First, administration economists and their outside supporters neglected the longer-term costs and consequences of their actions. Second, the administration and Congress have through their deeds and words heightened uncertainty about the economic future. High uncertainty is the enemy of investment and growth.
Source: Wall Street Journal
Yeah, that sounds about right. But at least the Obama administration hasn't used the nation's economic troubles to advance its own political agenda...
Another defect of Obamanomics was that part of the increased spending authorized by the 2009 stimulus bill was held back. Remember the oft-repeated claim that the spending would go for "shovel ready" projects? That didn't happen, though spending will flow more rapidly now in an effort to lower unemployment and claim economic success during the fall election campaign.
Source: Wall Street Journal
...oh boy... Sounds alot like
Obama's decision to refuse international help on the BP oil spill cleanup in an effort to please labor unions.
