It doesn’t get much attention, but one of the most interesting economic experiments in American history occurred right after World War II. Despite warnings of Armageddon from Keynesian economists, government spending was slashed as the United States demobilized from…
Daily Analysis
Unemployment at 9.1 Percent: Heckuva Job on that Stimulus, Mr. President!
Based on this morning’s numbers, I’ve updated my chart showing what the Obama Administration said would happen with the so-called stimulus compared to what actually has happened. As you can see, the unemployment rate is about 2.5 percentage points higher than the…
New Study Shows Government Hindering Job Growth While Unemployment Lingers
It would not surprise most Americans to hear that unemployment rates are still lingering lower than pre-recession levels. As Dennis Cauchon wrote last week in USA Today: The nation has 5% fewer jobs today — a loss of 7 million — than it did when the recession began in…
English Riots, Faux Austerity, and Krugman’s Fairy Tale
London was just hit by heavy riots as part of a protest against the “deep” and “savage” budget cuts of the Cameron government. This is not the first time the U.K. has endured riots. The welfare lobby, bureaucrats, and other recipients of taxpayer largesse are becoming…