"To begin with, economists on both the left and right agree that the last thing a government should do in the middle of a recession is to cut back on spending. You see, when this recession began, many families sat around their kitchen table and tried to figure out where they could cut back. So do many businesses. That is a completely responsible and understandable reaction. But if every family in America cuts back, then no one is spending any money, which means there are more layoffs, and the economy gets even worse. That’s why the government has to step in and temporarily boost spending in order to stimulate demand. And that’s exactly what we’re doing right now."
This rationale for expanding government spending would only make sense if bureaucrats knew where economic equilibrium belonged all the time and knew how to get it there. Since they don't and can't, Obama's logic doesn't hold up.
Further, since Obama doesn't know where equilibrium is or how to get it any place in particular while he continues to insist on wasting our money trying to figure it out, we should probably all get together and talk about what we are going to do next.
How about Saturday in Lexington?
