Obama and Reid’s new economic plan: Same as the old one
Does this plan look familiar?
It should, because the plan – Spend! Spend! Spend! under the guise of recovery – has been what Obama and Reid have been pushing ever since they passed the $787 billion stimulus bill in February 2009. And the Reid/Obama plan has worked about as well as the plan that this cartoon – published in the Chicago Tribune on April 20, 1934 – is satirizing.
And if you think the New Deal got us out of the Great Depression, you need to read Great Myths of the Great Depression to understand how government action prolonged the depression, just like current government actions are deepening this economic downturn.
Major hat tip to Reno Hayek for the cartoon. If you’re interested in a Nevada-based economics blog, be sure to check out Reno Hayek regularly.