Barack and Joe: Obama's Keynesian Vision

See also: Barack and Joe: Taxation, Barack and Joe: Social Justice As Obama explained it to Joe the Plumber, here's how our economy works: [M]y attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody. If you've got a plumbing business, you're gonna be better off if you've got a whole bunch of customers who can afford to hire you. And right now, everybody's so pinched that business is bad for everybody.  And I think when you spread the wealth around, it's good for everybody. Or to translate, "You should thank me for taking your money, Joe." Now, over the last 3 years, Obama has not in fact re-distributed Joe's wealth (such as it is).  Taxes on Joe haven't gone up. Instead, Obama (albeit, somewhat reluctantly) dodged the tax issue.  But he did transfer a lot of wealth to his political clients and the "folks." How did he do that?  By spending like crazy and running up a huge deficit.  Now he calls for shared...(Read Full Article)

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