Theory Behind ObanaNomics is a Proven Hoax

Rarely has there been a better opportunity to judge the validity of economic ideas than the last four, miserable years.  We have experienced in real time an audacious experiment, testing the theory of economist and progressive hero John Maynard Keynes that the government can buy prosperity by spending enormous amounts of borrowed money and the […]

President Obama’s “Smart Cuts”

The President has submitted his 2014 budget to Congress.  At a White House media event he spoke of  “deficit reduction” and claimed to have proposed  “smart cuts” in spending. 

The Disconnect: Obama’s Talk Vs His Budget

President Obama has invented a new name one of Washington’s most enduring deceptions, the promise of spending cuts in return for tax increases.  He calls it his “balanced approach.”  As always the tax increases are real and immediate while the spending cuts turn out to be illusory. The President wants to rescind the Sequester spending […]

Do We Have A Spending Problem?

In a Wall Street Journal interview about fiscal cliff negotiations House Speaker John Boehner quotes President Obama: “We don’t have a spending problem.” While the President often says the word “cuts” at his campaign style media events, his next words usually are “so we can make investments in…”  It’s hard to avoid the conclusion that […]

Fiscal Cliff and Democrats’ Contempt for Voters

The corrupt, profligate spenders won. The media cheered, The People lost. The President and his media allies didn’t talk much about why America faced the so-called fiscal cliff.  This chart shows why there is such acrimony in Congress. It took 22 years, from 1986 to 2008 for government debt owed to the public to rise […]

Obama’s New Years Eve Duplicity

President Obama decided that New Years Eve, as the Senate was considering the fiscal cliff bill, would be a good time to mock Republican voters and the Representatives they elected.  So he organized a campaign style rally complete with a cheering audience of White House staffers.  He claimed the purpose of this media event was […]

Deficit Flim Flam: Claim Cuts But Spend More

Much of the political-media establishment’s “information” about massive government deficits and fiscal cliff negotiations is deception made possible by the arcane budgeting process in Congress.  President Obama didn’t invent the process.  But he’s an enthusiastic practitioner of the deception. [continued below the chart]While most of the “news” bout fiscal cliff negotiations has been about tax […]

It’s The Spending, Stupid

During weeks of post-election campaigning and economic debate in Washington the political-media establishment has simply ignored the the real cause of the government’s monstrous deficits and rapidly growing debt. After years of refusing to deal with relentless growth in federal spending Congress and the President have dragged us to the Fiscal Cliff, a nickname for […]

Obama’s Debate Gaffe the Media Ignored

Can government pay for new infrastructure initiatives with imaginary money? The President has contradicted himself several times, most recently during the second debate. But so far the media have been too obsessed with Romney’s binders to notice.  In the first debate President Obama was asked about the deficit.  His answer, in part, was: When I […]

Obama’s Only Jobs Boast Is a Jobs Failure

If you’ve heard a campaign speech by President Obama or Vice President Biden or you’ve heard their cheer leaders in the media, you’re familiar with the one employment statistic they bellow at every opportunity: Over the last thirty months we’ve created 4.6 million private sector jobs! They hope voters will think 4.6 million, the net […]

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