The View From 1776
Monday, April 11, 2011
Another Obamanomics Triumph
The problem, of course, as seen by New York Times propagandist Paul Krugman, is that the president and Congress have so far committed to spend only several multiples of the largest previous amount of deficit spending in world history. The scope of government, not yet blanketing the entire economy, must be enlarged.
A bed-rock presumption of liberal-progressive doctrine is that private individuals and businessmen are just too dumb to manage their everyday lives and business. Its implicit end point is a statist economy in which all economic activity is regulated by Washington bureaucrats and everybody works for the government. Naughty consumers and businessmen then could no longer refrain from spending and freighting themselves with bankrupting levels of debt.