Beyond the Debt Ceiling - Barrons.com

DECISION MAKING MANTRAS - WHAT ARE WE MISSING?: Beyond the Debt Ceiling - Barrons.com

Econometic projections are always based on some manipulation of past data to forecast the future.

What we don't seem to be hearing enough of are Laffer-like projections vs. the Keynesian projections of the Democrats.

There are still many commentators in the Wall Street Journal who appear to be die-hard Keynesians. What do I mean by this?

Basically, they have a belief that a business should still hire someone if their salary is double what the market price is in another country and that these higher salaries don't influence the ability of a company to sell its goods.

And, if they might agree that costs of production matter, they seem oblivious to the implications of Obama's union / welfare-centric policies on doing business in America.

It would be nice to see some serious attempts to run some numbers.

A single change to a final figure for the stock market, employment, etc. is all well-and-good; however, it would be interesting to see more focus on policy implications.

The evidence has to be out there in spades - one just wonders why more isn't being done with it?

Perhaps people are so set in there views that any attempt to imply that personal decision-making mantras (like shopping for discounts or working harder when you get a promotion or a raise) also actually effect the broader economy. Obama clearly ignores such thoughts.