THE POLITICAL CLASS IS DETERMINED TO MAKE OUR ECONOMY WORSE
Do you think government has grown or contracted during the past seven years?
If you listen to the political class and many of their lackeys in the news media, you would think there have been massive cuts in government spending. The truth is the opposite both in the United States and Europe.
According to Keynesian orthodoxy, the massive government spending binge of 2009 was supposed to result in a rapid recovery, high growth (the Federal Reserve and the Obama administration had predicted several years of approximately 4 percent growth in the U.S.), and big increases in employment. It didn't happen.
The Democrat Party and one of its gurus, New York Times economist Paul Krugman, blames the poor result on the "stimulus" being too small. One little problem for the Krugman crowd is...
