Kudlow: Obama's economic model a failure

As the NRO sage points out, it isn't just his ideology, or philosophy, or even just his policies that have failed; it is Obama's entire view of economic reality that must be called into question: The Keynesian government-spending model has proven a complete failure. It's the Obama model. And it has produced such an anemic recovery that, frankly, at 2 percent growth, we're back on the front end of a potential recession. If anything goes wrong -- like another blow-up in Europe -- there's no safety margin to stop a new recession. [...] Barack Obama doesn't get this, but businesses create jobs. And firms have to be profitable in order to hire. Yet the president is on the campaign trail criticizing Mitt Romney by degrading the importance of profits. Huh? Without profits, businesses can't expand. And if they don't expand, they can't hire. And if they don't have profitable rates of return, they're not going to attract new capital for investment. Which brings us to a couple of...(Read Full Post)