President Obama’s New New Deal of massive government intervention was inspired by FDR’s New Deal, and both have been plagued by chronic high unemployment.
A whiff of protectionism is in the air. Battered by the recession, many Americans are beginning to blame some of their woes on foreigners.
Runaway federal spending isn’t likely to be brought under control as long as the major entitlements – Social Security, Medicare and Medicaid – remain out of control.
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