One Guy's Opinion on the Political Scene By: Jim Herndon
When it comes to the public’s understanding of basic economics - at least the Democrat portion of the public – given our government-run schools’ failure to teach the subject, and given the Obama psychosis racking the country, it is pure Alice in Wonderland out there.
According to an Associated Press poll, seven in ten Democrats think the president-elect will make the changes needed to revive the economy. Eight in ten said strengthening the economy and creating jobs are the top priorities. Yet, only three of ten said they wanted Obama to make income-tax cuts a top priority when he takes office and even fewer wanted to extend the Bush tax cuts. Where does one imagine the juice for triggering increased business and employment come from? Increasing the unemployment benefits, welfare, or giving away more (fill in the blank?) History and Milton Friedman do not lie; taking money out of the pockets of those who spend and invest it is the precise opposite of what is needed to stimulate the economy and job growth. Final double-think: with Obama’s election, three of four Democrats are now very hopeful for the country. This, after selecting a complete novice at every important aspect of running the country, and whose principle asset is that he is a good speechmaker. Down the rabbit hole, we go.
