Obama's 'inside-out economics'

This is a great column from one of the great columnists in America you've never heard of. Caroline Baum is one of the few economics columnists who make the "dismal science" interesting to read. Today she takes apart Barack Obama's nonsensical and contradictory views on how to create jobs and grow the economy - what she calls Obama's "inside-out economics." No. 1. Because Obama speaks with such authority, it often takes several repetitions before I realize that what he's saying is total nonsense. For example, he wants to spend $50 billion on infrastructure to create jobs. But the 1,700-mile Keystone XL pipeline, which would carry oil from Canada's tar sands to refineries on the Gulf of Mexico, would "create about 50 full-time jobs," he said at a speech last week at an Amazon.com Inc. fulfillment center in Chattanooga, Tennessee. The State Department did say that the project's effect on permanent job creation would be negligible. In the interim, however, the pipeline would ...(Read Full Post)