Michael Barone has written a little primer on what an Obama Administration might do when it initiates a new "New Deal" that will spread the wealth around.Barone points out correctly that the original New Deal spawned under FDR was not meant to grow the economy out of the depression but rather simply freeze the economy in place to keep it from getting any worse. The result was that even thought most of the rest of the developed world was coming out of the depression by 1936, US industrial production didn't even reach levels achieved in the 1920's until the late 30's.Even then, we had double digit unemployment almost to the start of our involvement in World War II in December of 1941. It took the war and the massive increase in spending to actually bring us out of of the economic doldrums.So what does Obama have in store for us? Obama seems determined to follow policies better suited to freezing the economy in place than to promoting economic growth. Higher taxes on high ...(Read Full Post)