Stimulus

Any more stimulus and we will be caught in a depression. Like in Rooseveltan times taxes are not successful in stimulating the economy and Obama will only succeed in making the Leviathan bigger. The literature and studies on the failures of Rooselvelt are so complete that is difficult for me to see why Obama does not see this. Unless, of course, his aim is to grow the Leviathan. In that regard, Roosevelt was eminently successful.

If you are not familiar with the studies showing those failed policies a good book to start with is Free to Choose, by Milton Friedman. Friedman won a Nobel prize in Economics for his analysis of Roosevelt. Too bad they do not seem to include this basic primer in Harvard today.

Declaring war on business was a favorite trick of Roosevelt; getting the folks angry at people who make "too much money" was something he all too often did. In our time, our unwise President declared not only that he was going to tax this high income group which gives most of the jobs that keep America employed, but also he was going to go after all those who were trying to evade their tax responsibility.

Make no mistake. Obama spoke and the stock market listened. Not only did the stock market go into free fall, but also consumers have become tight fisted with their spending because they believe these expenditures will have to be paid for, and the cost to our economy might yet be higher. Thus we have classic a economic depression spiral.

The Obama administration suggests we need more stimulus. I guess that is because it worked so well the first time. Roosevelt never quit trying to "stimulate" our way out of the depression--the depression that we would still be in had not war caused the economic surge out of the spiral.
More taxes will not stimulate the economy--it will stimulate the government, a long term statist goal.

Here is an interesting editorial that paints a grim future:
http://www.realclearpolitics.com/articles/2009/07/03/june_jobs_tell_a_bad_story_97285.html