Obama’s stimulus failed according to his own figures

The president wants to raise taxes on the job creators and he thinks he can get more jobs that way. Dan Mitchell brings up some great points about lowering government spending will help us not become Europe.

I almost feel sorry for the ideologues and partisan hacks who feel obliged to defends Obama’s miserable economic performance.

Keynesian spending policies and class-warfare tax policies have produced dismal economic performance, with unemployment stuck above 8 percent – even though the White House promised the joblessness rate by this point would be about 5.5 percent if we squandered $800 billion-plus on the so-called stimulus.

Yet Keith Boykin gamely tries to put perfume on this hog in our debate on CNBC.

Notice that I began this post by saying I “almost feel sorry” for the spin-meisters who defend Obamanomics. But “almost” is the key word in that sentence. I reserve my genuine sympathy for the millions of people who can’t find jobs because of the President’s destructive policies.

Let me add a few comments.

Boykin tries to disavow the Romer-Bernstein report and pretend that the President didn’t highlight and promote its claims when pushing for the faux stimulus. That’s a remarkable bit of revisionist history and I think I was effective at tying that rotting fish around his neck.

Keith also highlights the relatively good performance of the Clinton years. As I’ve done before, I announce that we’d be much better off with the Clinton tax rates – but only if we also get rid of all the reckless spending and regulation of the Bush and Obama years. I thinks that’s an effective point to make, but I confess I don’t have any feedback one way or the other to indicate that it’s a persuasive argument.

The most revealing point of the interview is when the host incredulously remarked to Keith that “you think we should have bigger government.”

But if anybody thinks that it’s a good idea to increase the burden of government spending, then they need to explain why America will be better off if we make our country more like Greece and France.

Last week, I shared some numbers from the left-wing OECD which showed that living standards are much higher in the United States than they are in Europe’s welfare states. That is what this fight is all about.

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