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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (91950)9/30/2010 9:44:44 AM
From: JakeStraw2 Recommendations   of 224748
 
We have an unemployment rate that is beginning to look stickily stuck above 9%. GDP growth, the official measure of economic life, keeps falling (down to 1.6% in the second quarter). The stock index blips up and down daily.

Solution No. 1 was to throw nearly $1 trillion of stimulus at the economy. But Keynes failed. Then they sprayed the economy with gallons of Chairman Ben's Quantitative Elixir, or QE. Nothing happened. They could have extended the Bush tax cuts, but instead the Pelosi Democrats punted the subject past the November election, the equivalent of kicking the ball straight up in the air.

It looks to me as if there's only one policy they haven't tried: economic growth.

The United States doesn't have Eurosclerosis yet, but the Democratic Party does. That's because the party has welded itself forever to the public-sector unions, as the social-democratic parties have in Europe (see the current wave of national strikes in Spain and France). Strong growth has no meaning to the public sector, so its political foot soldiers don't waste time pushing it. Exhibit A is the Obama administration's abandonment of trade deals with Colombia, South Korea and Panama.
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