I need to forget everything that I have learned studying economics since I was a Freshman in high school. Yes 36 years of teaching, studying, reading and writing about the subject needs to be emptied from my brain. For economics has been reinvented by the Obama Administration in less than three months. 36 years versus 3 months. Well of course I am going to buy into the 3 month plan. Highlights of the 3month plan include but are not limited to doubling the national debt in one year, greater and more costly borrowing to finance the debt, tax evasion by cabinet members, in particular a leader of the actual treasury agency who does not need to pay taxes, stimulus which equal pork dripping overpriced work projects which do little stimulus if at all, and most importantly excessively high spending to go along with excessively high taxes. We are looking at a bankrupted future due to the new economic concept that government not the private sector trickles down money not the private sector. I guess that makes sense for someone who has never worked in the private sector yet earns the bulk of his income for 2007 and 2008 from it (book sales last time I checked were private sector although I could be wrong today).
The tea parties will continue and will gain even more strength much to the chagrin of the administration and the media. Economics 2009 leaves a great deal to be desired.