The only issue that matters in the 2012 election is the income disparity between rich and poor. And the fact that, as a whole, people are not seeing the benefits of the growth in GDP.
That red line is 1980 (about) when America embarked on a reckless experiment with supply-side economics. This chart
Keynesian economics, as it applies to driving GDP growth with government spending, only applies to military spending it seems. Funny that. That’s not how I learned it. But surely that must be true since the defense industry is claiming it to be true.
Holy mackerel! Bruce Bartlett, economic advisor to Ronald Reagan and George H.W. Bush makes a surprisingly strong case for Keynesian fiscal stimulus. He also says that, between Obama and Congress, it’s never going to happen. He dismisses the idiocy of regulation as causing the lack of aggregate demand.
“We should be borrowing like mad.”
Today in the front page of the Wisconin State Journal, Scott Walker Vows to stop the train.
All of this ideology also fails to mention,
Some $800 million in contracts, a series of difficult legal hurdles and a struggling economy will not stop Governor-elect Scott Walker from doing what he promised on the [...]