Economists Statement on Barack Obama’s Risky Economic Proposals: 100 Economists Warn That With Current Weak Financial Conditions Barack Obama’s Proposals Run A High Risk Of Throwing The US Into A Deep Recession
Barack Obama argues that his proposals to raise tax rates and halt international trade agreements would benefit the American economy. They would do nothing of the sort. Economic analysis and historical experience show that they would do the opposite. They would reduce economic growth and decrease the number of jobs in America. Moreover, with the credit crunch, the housing slump, and high energy prices weakening the U.S. economy, his proposals run a high risk of throwing the economy into a deep recession. It was exactly such misguided tax hikes and protectionism, enacted when the U.S. economy was weak in the early 1930s, that greatly increased the severity of the Great Depression.
In sum, Barack Obama’s economic proposals are wrong for the American economy. They defy both economic reason and economic experience.
Under Obama’s Plan, Joe the Plumber Would Keep .39 Out of Every Dollar After $250,000 — Come on now. Read it and understand.