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May 26, 2010
Two more nails in liberalism's coffin
Is Atlas about to shrug? Don't know, but judging by a couple of news items today, it sure looks like the old boy's knees are starting to wobble.
First, USA Today reports that in the first quarter, "[p]aychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year." As University of Michigan economist Donald Grimes points out, "The trend is not sustainable" because "[t]he federal government depends on private wages to generate income taxes to pay for its ever-more-expensive programs."
Whoa! I mean, who knew? Clearly, Barack Obama doesn't, nor do much or all of his economic "team." There is no I in team, as the saying goes, but surely at least one member of Obama's "team" can count the number of Is in idiot. Or is that asking too much of an economic "team" that apparently believes that money grows on trees.
But there is good news, too - evidence that the public, increasingly, is getting it. In today's Rasmussen Poll, Obama's approval rating stands at 42% , a new low for him.