Tags: obama | scarborough | economic | policy

Scarborough: Trickle-Down Economics Won't Save Economy

Monday, 28 Jan 2013 03:21 PM

By Newsmax Wires

President Barack Obama continues to pursue his failed economic policy as the government’s debt burden grows larger and larger, says Joe Scarborough, host of MSNBC’s “Morning Joe.”

The George W. Bush administration helped push the debt to $11 trillion, and now Obama has done his part to send it to $16.5 trillion, Scarborough writes on Politico.

“After a decade of Keynesian tax cuts, spending hikes, entitlement explosions, two wars, and free money from the Fed, America finds itself struggling through a sluggish economy that continues to gut the middle class.”

Scarborough, a former Florida GOP congressman, cites several distressing economic statistics: 25 percent of Americans subsist on food stamps, almost one-third are "not in the civilian work force," and Americans’ average income has dropped over the last four years.

He faults both parties. “Republicans still believe the Bush bailouts saved the economy,” Scarborough writes. “Democrats still insist that President Obama's stimulus bill and massive spending plans turned our country around.” But they’re both wrong, he says.

“How long will politicians fool themselves into believing that their version of a Washington-based trickle-down economics will save America from itself? When will they figure out that our economy will grow from the bottom up when Washington cuts the debt, balances the budget and finally gets out of our way?”




© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rand Paul: Jeb Bush a 'Hypocrite' Over Stance on Pot

Saturday, 31 Jan 2015 15:46 PM

Sen. Rand Paul was quick to call Jeb Bush a hypocrite following an unflattering profile in The Boston Globe that paints  . . .

Islamic State Group Beheads Japanese Journalist

Saturday, 31 Jan 2015 15:32 PM

An online video purports to show Islamic State group militants beheading Japanese journalist Kenji Goto.The video, relea . . .

ISIS Admits Defeat in Kobani

Saturday, 31 Jan 2015 08:56 AM

Members of the Islamic State group have acknowledged for the first time that they were defeated in the Syrian town of Ko . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved