American Elephants

This is Leaning Forward? by American Elephant
August 12, 2011, 7:15 pm
Filed under: Humor, Media Bias, Politics, Progressivism, Television | Tags: , , , ,

[click to enlarge]

Al’s latest and greatest will surely join the archives of great moments in Democrat oratory. (Couldn’t help but notice whilst mocking-up this parody that the font msnbc chose for the “lean forward” tagline is called “agenda”. How appropriate!)

(h/t Larry O’Connor)

The Tea Party Understands That Government Can’t Create Jobs. by The Elephant's Child

From the Heritage Foundation’s blog The Foundry this morning:

In the 1993 comedy Dave, a small-town presidential impersonator is called on to pretend to be the actual President of the United States when the commander-in-chief takes ill. Dave steps into the White House, takes his new role too far, and with wide-eyed innocence promises America, “I’m initiating a program to try to find a decent job for every American who wants one.” Yesterday in Holland, Michigan, President Barack Obama made a strikingly similar pledge:

“Over the coming weeks, I’m going to be putting out more proposals, week by week, that will help businesses hire and put people back to work. And I’m going to keep at it until every single American who wants a job can find one.”

It’s anyone’s guess if President Obama was taking a page from Dave’s playbook, hoping that the magic of Hollywood or the power of a populist message would resonate with Americans, helping to turn around his plummeting poll numbers. But a few things were clear in the President’s speech: Despite all evidence to the contrary, he is still clinging to the notion that the federal government can create jobs, he remains utterly disconnected from the reality that the American people are fundamentally dissatisfied with the direction he is taking the country, and he is doggedly sticking to his favorite script—the story of more federal spending coming to America’s rescue.

Paul Roderick Gregory explains in a column at Forbes:

The appeal of Keynesian economics is its simple logic.  If government spending for goods and services is part of GDP, then any increase in government spending must raise GDP.

As President Obama explained in a town hall meeting on Feb. 8, 2009: “Republicans say this is not a stimulus bill but a spending bill.  What do you think a stimulus is? That’s the whole point.”

Keynesian economics is easy, even for stupid people. More thought and analysis are required to understand why it has not worked as it is supposed to. Keynesian skeptics must show that increases in government spending cause other components of GDP, such as consumption, investment, or exports, to fall. Such countervailing forces require more nuanced and sophisticated thought. They are not for the mentally lazy or those seeking simple answers.

Liberals, he goes on to say, target the Tea Party as stupid.  They are not only dumb, but they don’t care if they bring down the country as well.

The Tea Party people are in rather distinguished company.  Since the Nobel Prize in economics was established, seven Nobel Prizes have been awarded to economists who cast serious doubt on Keynesian economics.

Consumers are not affected by transitory changes in income.  A permanent tax cut or increase will affect consumer spending, but a temporary change will not.   Contrary to liberal thinking, people are not stupid with respect to government taxes and government spending.  They are forward-looking, and try to prepare for the future.  Businesses and households are hunkering down.

The Obama administration has encouraged this by constant talk of new taxes. And in the face of the current downgrade in our credit rating, disastrous levels of debt, President Obama is attempting to embark on a new stimulus.  Keynesian economics and truthiness: the quality of preferring concepts or facts one wishes to be true, rather than concepts or facts known to be true. Gregory adds:

Perhaps the president simply does not want to hear from those who disagree with the course he has chosen. It could be that the president’s goal is not recovery and economic growth but growing the size and scope of government to achieve his goal of a redistributive state.

If that is the case, we are in for trouble.

%d bloggers like this: