Not my words, but the words of highly respected economist, Dr. Arthur Laffer from an interview published on Human Events.
“Obama is a fine, very impressive person. He really is. Unfortunately, everything that he is doing in economics is exactly wrong. He is a crappy president,” Laffer said.
Dr. Laffer had a lot more to say in that interview about the state of the country’s economy and how the Obama Administration’s economic policy is affecting it. Although Laffer didn’t have much nice to say about the current policy, his is not your run-of-the-mill partisan mudslinging. He’s also written some scathing reviews of Bush Administration spending decisions, especially the bailouts in 2008. He may not be a totally unbiased source of info, but he is consistent in calling bad economic policy as he sees it. And he has some solid credentials backing up what he says.
President Obama told Diane Sawyer in an interview recently, “I’d rather be a really good one-term president than a mediocre two-term president.” I would so love for him to be a really good president, but if he continues on his present course, I forsee him being more of a crappy one-term president.
Human Events Interview
“Get Ready for Inflation and Higher Interest Rates” — June 11, 2009, WSJ
Soak the Rich, Lose the Rich — May 18, 2009, WSJ
“How to Fix the Health-Care ‘Wedge’; There is an alternative to ObamaCare” — August 5, 2009, WSJ
The Laffer Curve was named after him:
http://en.wikipedia.org/wiki/Laffer_curve
It’s a very interesting model that asks the question, “If we raise taxes will that increase tax revenues, or decrease them?” Worth reading.
Sorry; meant to mention his connection to the Laffer Curve in my post. Should know better than clicking Publish at 1 am.
And it’s more than an interesting model, it’s pretty much proven, although not exactly intuitive. Tax increases beyond a certain point will reduce tax revenues, but targeted tax reductions can boost revenues dramatically. The tax cuts of the Reagan Administration were a good demonstration of how dramatically.