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Summary

During the 2008 presidential campaign, Obama promised time after  time "a net spending cut" to make government smaller in order to  cut the deficit. But the huge increase in government spending and  debt, and the resulting higher future taxes will make America a  poorer country. The Congressional Budget Office estimates that the  deficits that President Obama proposes for the years from 2011  through 2020 come to a staggering $126,000 per family of four. That  is on top of the $35,000 per family already chalked up under the  first two years of Obama's administration. But has all the new  government been worth it? Are Americans happier because the  government has determined where this money should be spent? The  answer is clearly no.   Obama's economic policies have raised unemployment, slowed  economic growth, dramatically raised the national debt, squandered  taxpayer money through poor investments, and further damaged the  housing market. The economy will eventually grow, though slowly.  The No Tax Pledge will explain why Obama's policies on  spending, taxes, regulation have all worked to harm the recovery,  increased unemployment, and depressed housing prices. This debate  is part of a broader debate over Keynesian economics most notably  involving Paul Krugman in the New York Times. The authors  plan on dissecting these arguments and explaining why Keynesianism  represents more a way of transferring wealth to desired political  constituencies than it provides a legitimate economic theory for  how the economy operates.

Duration: about 6 hours (05:35:58)
Publishing date: 2020-07-20; Unabridged; Copyright Year: 2020. Copyright Statment: —

• University Textbooks & Dictionaries
• Business & Economics