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Their effort to refashion society by redistributing income and regulating markets is now hitting the reality of insufficient cash flow. Even worse, the governing elite’s self-love, sense of noble entitlement and arrogant belief that their good intentions trump bad results have led to a series of policy blunders that have destroyed jobs and businesses in the productive private sector, intensifying the government debt crises here and abroad.
Meanwhile, there is new evidence the governing elite’s claim that increased government spending leads to economic growth is false. A new study by Laffer Associates concludes: “The findings are as clear as a bell: looking at the stimulus plans in 34 OECD nations, those with the largest spending spurts in 2008 and 2009 had the most anemic recoveries in 2010 and 2011 in jobs and growth. Amazingly, the four nations— Estonia, Ireland, the Slovak Republic, and Finland—with the biggest stimulus programs all had the subsequent steepest declines in growth.
“Those countries with the least stimulus spending had the smallest declines in economic growth, on average. These results are right in line with the results we found looking exclusively at U.S. data over a far longer time period.”
Hahahahaha!!! Laffer. Hahahahaha!!! The discredited idiot who invented the "supply side" "voodoo economics" theory that is the real culprit for the destruction of our economy.
FUNNY how every single solitary indicator of where, when, and how things got royally screwed up in this country dates right back to the Laffer/Reagan era.
The Liberal trickle up economics has failed again. It failed for FDR and now it failed for Obama. LBJ's Great Society programs have all failed and we have more poverty in America than ever before.
Magician's call it mis-direction. Do something with one hand to divert attention from what the other hand is doing. That's what's going on in that link.
The elite right is attacking working people and the poor on every front, but this article attempts to trick you into the looking the other way by saying, "Oh, look! There's one over there!"
The Liberal trickle up economics has failed again. It failed for FDR and now it failed for Obama. LBJ's Great Society programs have all failed and we have more poverty in America than ever before.
Actually, the Socialists trickle-up poverty Keynesian economic model is destroying the USA's middle-class, just as designed.
Read today where the so called founder of the big bnaks says they should be broken up form banking and finacial. i agree but also think its clearly shown that big government is just a dangerous to the nation.
The Liberal trickle up economics has failed again. It failed for FDR and now it failed for Obama. LBJ's Great Society programs have all failed and we have more poverty in America than ever before.
Look at the value of the US dollar compared to prior to the founding of The Fed. There is a downward shift of the middle class which has been occuring over the past century. This is not a new development; rather it is ongoing and has been by design. A nation cannot spend its way out of debt.
Every tax passed under the guise of "tax the rich" has hit the middle class the hardest.
Clue: income tax, death tax, AMT
Prove it? How about you go educate yourself instead of drinking the Socialist hater-aid?
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