American Thinker: The Top Ten Reasons Obamanomics Won't Work

American Thinker: The Top Ten Reasons Obamanomics Won't Work:

By Mikiel de Bary

A brute inflationary monetary policy of the kind we are experiencing today can hardly avoid leading to a growth in GDP that, after all, is largely a record of consumer spending. But we cannot judge an economic policy to be 'working' simply by detecting such an increase in GDP. Nor may we say policy has 'succeeded' just from increases in government jobs or government-subsidized jobs. An economy's success, properly speaking, is one that increases long-term levels of production with robust private sector employment. In short, inflation and public sector growth do not mean a policy has 'worked.' As the essence of Obamanomics is easy money and government aggrandizement, there are lots of reasons for pessimism. Here are ten of them"