T Nation

Obama's Economics Grade


#1

What would you give him for a grade? I realize that he inherited 70+ years of insane Keynesian spend-and-debase, and is playing along with it.

If he was trying to reform Social Security/Medicare, I'd give him a 'B'. Since he's doing neither, I'll give him a 'C'.

Then again...

"Next year, taxes are increasing almost 20% in the United States -- that is roughly $350 billion. According to studies by Obamaâ??s Chief Economist Christina Romer, $1 of increased taxes results in $3 in reduced economic activity. That is $1.15 trillion sliced RIGHT OFF THE TOP of the US economy, about 10%."

http://www.marketoracle.co.uk/Article18778.html


#2

Incomplete.


#3

The best grade he could get in reality, from me, would be 'WF' -- withdrew failing.

To his credit, he did buy more time with all the spending. Maybe a miracle will happen and we'll return economically to the golden 50's. That'd be nice. Unlikely but we can dream can't we? :wink: