Arthur Laffer: The Real 'Stimulus' Record

wsj opinion

• the debate rages between those who espouse stimulus spending as a remedy for our weak economy and those who argue it is the cause of our current malaise.  [ comment: I did a lot better during the Bush years than I'm doing now.  Time to change course.]
• Obama's $860 billion stimulus plan that promised to deliver unemployment rates below 6% by now. Stimulus spending over the past five years totaled more than $4 trillion.
• government taxing people more who work and then giving more money to people who don't work is a surefire recipe for less work, less output and more unemployment [ comment:  that's the goal, the mistake is to think otherwise]
• But all of this is just old-timey price theory, the stuff that used to be taught in graduate economics departments.[ comment:  Ominous, if the "educated" believe in bunk, we are sunk.]
• Mr. Obama keeps saying that if only Congress would pass his second stimulus plan, unemployment would finally start to fall. That's an expensive leap of faith with no evidence to confirm it.

We in deep doo doo keemosabe.