Obama, Spending, & Economic Growth

New data offer the best, conclusive proof that contrary to popular belief -- what is the press doing? -- spending has actually fallen under President Obama.  The economic slow-down and even contraction that has begun to take hold traces this spending drop.  Coincidence?  Not at all.

From the article at TPM:

The new numbers provide more grist for the debate, such as it is, over whether contractionary economic policies slow growth. Conservatives say government spending is the problem, not the solution. Keynesian economists, notably Nobel Prize-winner Paul Krugman, have argued that pulling back on government spending while economic output remains below its potential threatens the recovery.



“Gosh, I wonder why the economy is underperforming?” Krugman wrote of the data.

FYI, Krugman is correct.  Now, if only the press and the public would only wake up and smell the coffee.  More to the point, if only the all-too-fiscally-conservative president would do the same.
 
5 June 2012