There's a reason it took the country so long to pull out of the Great Depression under FDR, why Americans became acquainted with the Misery Index under Carter, and why we've had the weakest economic recovery from a recession in U.S. history under Obama. Liberal economic policies just don't work. In fact, the only time left-wingers have taken charge in the last 40 years without decimating the economy was during the Clinton years when Republicans in Congress balanced the budget and spent 6 years strong-arming Clinton to keep him from molesting the economy like one of his interns. This is no coincidence; it's a natural consequence of the errant liberal view of economics.
1) Keynesian stimulus doesn't work. As Walter Williams has pointed out, the whole idea of revving up the economy via a government stimulus is doomed from the start.
…Where does Congress get the resources for the spending? Well, there is no Tooth Fairy and there is no Santa Claus. So, the only way Congress can get one dollar to spend is to take that one dollar from Americans, borrow that one dollar from Americans, or inflate that one dollar from Americans.
So, it’s very much like the visual image of a swimming pool. A person notes there is a shallow end, so he takes the water out of the deep end and pours it in the shallow end, hoping to raise the height of the water in the pool — and you would call that person stupid.
2) You can't fund the whole country on the backs of the rich. Remember the Buffet Rule that liberals hyped endlessly for months? It turns out it would only raise 45 billion dollars over a decade. All of that money combined will amount to about 2 weeks’ worth of this year's Obama deficit. That hearkens back to the dirty little secret that liberals don't want the American people to find out. America already has the highest corporate tax rate in the developed world and the most progressive tax code in the Western world. That means the rich are already almost tapped out and since they can afford high dollar accountants, tax shelters, and lobbyists and they can just move out of the country or stop working if that isn't enough, there's just not that much more revenue to be had from the wealthy.
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