Home > News > Economists Warn Obamanomics Could Create Depression; WSJ’s Moore Responds | NewsBusters.org

Economists Warn Obamanomics Could Create Depression; WSJ’s Moore Responds | NewsBusters.org

September 8, 2009 Leave a comment Go to comments

And are we supposed to think this wasn’t planned that way?  Collapse the economy, then bail everyone out and create a socialist, welfare society.  Welcome to Obamaland.

It’s clear that President Barack Obama’s $787-billion stimulus hasn’t worked as advertised, but some economists are worried it could backfire and cause something much worse.

According to a new study by economists Charles Rowley of George Mason University and Nathanael Smith of the Locke Institute and endorsed by Nobel laureate James Buchanan, the Keynesian tactics employed by Obama "will ultimately hamper the long-term growth potential of the U.S. economy and may risk delaying full economic recovery by several years." The study accuses the president of making Depression-era mistakes.

Economists Warn Obamanomics Could Create Depression; WSJ’s Moore Responds | NewsBusters.org

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