Saturday, January 10, 2009

I'll give kudos where its due...

Pat does have a grasp of the historical perspective, no question... my problem with Pat is that he is very selective on how he applies that perspective.

Your article shows that he is perfectly capable of recognizing that the Keynesian model works... it worked for FDR/Truman, it worked for JFK, and it worked for Reagan. Clinton's "legacy" of fiscal responsibility in the booming 90s is based on a Keynesian "boom" model... as Clinton raised taxes (which he did), he only did it as the economy improved. Had those increses occured with a slow economy, the economy would have slowed faster... and perhaps even stopped altogether.

I agree with the sentiment that increased taxes in the next 24 months will only make economic matters worse for the US. Keynes called for lower taxes across the board during a recession... but Obama is promising higher taxes for nearly any company/business with a revenue of more than $250,000/year... that constitutes more than 95% of every business in the country. So, while he may promise to CUT taxes for workers... their employers will be paying more (possibly by as much as 24% more) and thus will be less likely to hire more employees or expand their businesses.

So, in regards to your post... I agree.

That doesn't mean I like the islolationist economic, immigration, and foreign policy positions he is continually taking, though...

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