GHEI: Obamanomics hasn't worked - Washington Times

GHEI: Obamanomics hasn't worked - Washington Times Sen. Claire McCaskill, Missouri Democrat, once told Fox News that President Obama’s $833 billion stimulus was “wildly successful.” As the Election Day draws near, it’s important to have a clear view of the impact of the president’s major legislative achievement second only to Obamacare. According the Congressional Budget Office, the stimulus cost more than the Iraq war. The only thing it succeeded in doing was to push the country deeper into the fiscal hole, leaving us stuck with the weakest recovery since World War II. Mr. Obama promises more of the same in a second term. It can’t work. British economist John Maynard Keynes was the father of the theory that government spending could create prosperity. Since his death in 1946, this damaging idea has resulted in the transfer of trillions of dollars of wealth away from the people who earned it and into the hands of bureaucrats. Such redistribution of income cannot result in economic growth. Read more: GHEI: Obamanomics hasn't worked - Washington Times http://p.washingtontimes.com/news/2012/oct/12/obamanomics-hasnt-worked/#ixzz29QN7JiIs Follow us: @washtimes on Twitter