Obama Administration's Denial Of Their Failing Economics
By: Les Carpenter III Rational Nation USA A great article today in The Washington Post by Richard W. Rahm compares Reaganomics with Obamanomics. The article highlights the Obama administration's refusal to recognize its failures. At least as compared to their own economic forecasts. Obama and his supporters are in denial that his policies, and the huge expansion of governemnt well beyond that of GBW, has essentially failed to produce the results they hoped for. A quick read of the chart comparing Reagan's and Obama's results following the bottoming out of the respective recessions clearly shows the positive results of the Reagan's economic policies as compared to the results of Obama's over the same post recession time period. Excerpts from the article: As almost everyone now knows, there are two competing theories about how to revive the American economy. One theory is to promote the supply-side of the economy by cutting tax rate...