- Economic growth is not driven by soaring government spending, deficits and debt. It is driven by incentives to work, save, invest, start businesses, expand businesses, create jobs, and take on the risks of entrepreneurship. Keynesian economics does not work because borrowing or taxing another $50 billion out of the private economy to spend another $50 billion into the economy does not add anything to the economy on net. Nor does it do anything to change the fundamental incentives that do drive the economy, except maybe make them worse. The American Spectator (2010/09/08).
Just as Japan suffered under the illusion back in the 90's that it could "stimulate" the economy by doing the Keynesian thing, i.e. government spending, deficits and debt with a focus on big spending on infrastructure we are repeating the same mistakes. But with the example of Japan one has to ask why is Obama and his minions doing the same thing that dumped Japan into two decades of stagnation? There is only one answer: Washington bureaucrats want control of our lives and they are doing this by making us poor and dependent on Washington handouts. Is this what we want? To live a life of kow-towing to bureaucrats? I don't think Americans have yet lost the can-do, leave me alone spirit that tamed and settled this vast country we patriots like to call America the beautiful. To understand the mindset of the bureaucrat hack read the article 'AMERICA'S RULING CLASS" by Angelo M. Codevilla in the July-August 2010 issue of The American Spectator.