Review & Outlook: Spending His Way to Austerity - WSJ.com

PICKING AND CHOOSING FROM HISTORY (Lack of an objective view): Review & Outlook: Spending His Way to Austerity - WSJ.com

Clearly Obama discounts the 'Laffer Curve' - it relates to an economic reality (think religion) that is beyond his comprehension.

One reason people should realize that those who really caused the housing bubble (i.e. those in an economic cloud of unreality) are still trying to control the US government, its budget, tax system and economy.

What will hindsight bring us?

(It would seem as though it already has since the Laffer argument about tax increases prolonging the Depression of the 30's seems to have been proven by the loose money of Bernanke and the Keynesian spending of Obama having failed to cure the current economic downturn in the face of the huge deficits (going to social consumption rather than investment) and obvious attempts to massively increase taxes on those able to both pay or to grow the economy.

Hindsight is there; too many people just don't know history or choose to ignore it and pick and choose.