To understand how, consider that the Democratic explanation for our current malaise is utterly fallacious. Mr. Obama and his allies identify the "Bush tax cuts," "two wars that weren't paid for," and "deregulation" as the causes of America's present economic doldrums. But federal outlays as a percentage of GDP under George W. Bush averaged 19.6 percent. Under Obama, spending has ballooned to 24.1 percent of GDP. Much of Bush's spending was temporary (the two wars, one of...
If Mitt Romney is elected and secures Republican control of both houses of Congress, the U.S. could be poised for a vertiginous economic snapback.
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