Posted by
Bill Crawford on Monday, November 23, 2009 10:38:20 PM
I understand that the best guess of the economic theories of Obama and his advisors equate them as some sort of neo-Keynesians.
Keynes would welcome their efforts at "trickle up" economics. His theories of aggregate demand would hold that jobs were created by increasing consumer demand- when people are able to buy more, businesses will chase after the money by producing more.
The new American left perverts Keynes from the top and the bottom. Obama's "middle class tax cut" was to jiggle up the withholding rates on everybody the the tune of an extra $14 a week earlier this year, until they reached $400. You already got it, folks. What did you do with all that money?
Then, at the top, they threaten the business class with all sorts of onerous tax increases. "Soak the rich", that old populist bastion. Whiile Keynes applauded that while he was alive, it wasn't part of his theory, not directly.
So, if the government is tapped out, and the tax burden increases, what is the end result of Obamanomics? More government, that's what. It is designed to get us all used to a European tax burden, and the European government/ business model.
This is what the Clinton people strove for in 1993, but they ran into a wall real fast, and back tracked to get what they could.
Obama is glued to this end game, and he is willing to sacrifice a second term to get it off the ground.