Obamanomics fails, but it’s always our fault
In an earlier post, we discussed the utter failure of Keynesianism to produce results that are demonstrable. After almost a century, they’re still relying primarily on their insistence that they’re correct as proof that they’re correct.
“The green regression line highlights the most important takeaway from this chart: that there is no obvious relationship between a decrease in government spending and a decrease in GDP. Keynesians would expect the line to slope upward; in fact, it slopes slightly downward. But the slope of the line is not significantly different from zero […]
The theory of Obamanomics requires us to accept as gospel that government spending produces a multiplier effect that increases economic output and employment. When it fails to produce the desired results, we are always at fault for not letting them spend more.
Ardently devoted to the cause of human freedom, he has worked at the confluence of politics, activism, and public policy for more than a decade. He co-wrote a ten-part series of video shorts on economics, and has film credits as a researcher on 11 political documentaries, including Citizens United's notorious film on Hillary Clinton that became the subject of a landmark Supreme Court decision. He is the founder of several activist endeavors, including AnyStreet.org (now a part of Western Free Press) and Liberatchik.com. He is currently the managing editor of and principal contributor to WesternFreePress.com.