Just a reminder: Obamanomics has flopped
posted at 3:21 pm on October 9, 2012 by Ed Morrissey
Often, I get asked, “Will you write a one-post explanation about why people should vote against Barack Obama?” Guy Benson, Mary Katharine Ham, and I did that in 2008, and then Elizabeth Scalia and I teamed up for another aimed at our fellow Catholics. In truth, the reasons to vote Obama out of office are so many and so interconnected that it’s difficult to conceive that anyone needs that kind of explanation. However, at least on economics, the Center for Freedom and Prosperity puts together a video that presents a fairly comprehensive argument that Obamanomics has utterly failed:
Dan Mitchell gives it his seal of approval, and links to supporting data:
I’ve narrated a video on why Keynesian economics is bad theory, I’ve also narrated a video specifically debunking Obama’s failed stimulus, and I’ve put together a post with data from the Minneapolis Fed showing how Reaganomics worked far better than Obamanomics.
But this video from the Center for Freedom and Prosperity Foundation does all that – and more – in only about six minutes.
By the way, for those who like gory details, a previous video in the CF&P Foundation’s Economics 101 series looked at how the so-called stimulus was a rat’s nest of waste and corruption.
This actually is just a birds-eye view of the economic argument. Each of these topics can and should (and have been, at least here) get more fully fleshed out. In truth, Obamanomics is nothing more than a series of short-term gimmicks, relatively easy outside stimuli to mask the real problems of government intervention and onerous gaming of markets. This demonstrates the difficulty in writing just one essay to present a truly comprehensive and final argument against Obama’s re-election.
Incidentally, those essays from 2008 hold up pretty well. Give them a look and see how well most of those arguments still apply.