Keynesian Economics Fails

Keynesian economics has failed again.  There were a lot of good things we could have done with the $830 billion that was flushed down the toilet through the 2009 stimulus.  Barack Obama and the Democrats wanted that money to pay off unions and redistribute to those who don't work.

The $830 billion was used to grow perennial dependency and for special interest handouts.  That money could have been used to permanently transform our entitlement programs to free-market personal ownership accounts.  It could have been used for massive pro-growth tax cuts.

CBO Director Doug Elmendorf admitted to Senator Sessions that in the long run the stimulus will shrink the economy.  He testified at a  Senate Budget Committee hearing that the stimulus will indeed “be a drag on GDP” over the next ten years.  Any diligent student of history already knew that, but now we have the “gold standard” of budget and economic scoring to affirm that self-evident truth.  Nevertheless, fear not, the stimulus will have a stimulating effect in the short-term.  That’s why we are enjoying a robust annual average GDP growth of…..1.4%.

The Obama lie is over.  The stimulus was a failure for America.  It didn't help America and is causing harm to our economy.  This was nothing more than a slush fund for Obama to pay off the unions and campaign contributors.

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