Reply #17: Obama is a supply sider [View All]

[Hawkowl]

Only a supply sider talks about deficits as being a critical problem. Only a supply sider keeps working on ways to stimulate "private investment" as the main engine of the economy.


"I think the next couple of years, we've got to focus on debt and deficits. We've got to focus on making sure that we make the recovery stronger. And a lot of that is attracting private investment. Making sure that these companies who are making good profits are actually seeing the opportunities out there in a whole range of new areas and new ventures." That is Obama spewing supply side bullshit. If he actually believes this shit he might as well be an idiot rethuglican.


http://www.salon.com/news/politics/barack_obama/index.html?story=/opinion/walsh/politics/2010/08/30/obama_debt_and_deficits



Maybe that's why he sees nothing wrong in supporting free trade, or his unwillingness to do anything to halt offshoring of jobs. He is ignoring that consumption drove 70% of this economy and people and businesses HAVE NO MONEY. People and businesses won't borrow money even at the ridiculously low current interest rates if they can't pay it back!

Summer, Geithner, Bernake all lack the expertise or theoretical underpinnings to fix this economy. A dribble of stimulus here and there is like talking aspirin for an infection. It will alleviate the symptoms but doesn't do anything to combat the infection. We need an industrial policy that is more than letting Wall Street defraud the entire country.