The Obama Depression

The Foundry ^ | 2/23/09 | Conn Carroll

[ToddThurman]

The Heritage Foundation does not believe in Keynesian economics. We do not believe that massive government spending has a “multiplier effect” which turns the initial amount of money spent by the government into an even greater increase in national income. Economic studies of projects claiming to have a “multiplier effect” have shown that the claimed additional economic benefit from government spending simply never materializes. But the White House does believe in Keynesian economics. And President Barack Obama’s entire economic plan is grounded in the belief that massive new government spending is the key to economic recovery.

[HighlyOpinionated]

Raising taxes has about as much chance of ending a recession as promiscuous sex does of ending venereal disease.

Or, as many Africans believe, . . . as having sexual intimacy with a virgin will cure HIV/AIDS.