Why Obamanomics Has Failed – Annotated

Katie Geleris / June 30, 2010

Carnegie Mellon University economics professor and American Enterprise Institute visiting scholar Allan Meltzer has a must read op-ed in today’s Wall Street Journal titled: Why Obamanomics Has Failed: Uncertainty about future taxes and regulations is enemy No. 1 of economic growth. It is re-posted in its entirety below but as an added bonus we have added links supporting many of his factual and theoretical claims:

The administration’s stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible.

But they want new stimulus measures—which is convincing evidence that they too recognize that the earlier measures failed. And so the U.S. was odd-man out at the G-20 meeting over the weekend, continuing to call for more government spending in the face of European resistance. (more…)