Scarborough: Trickle-Down Economics Won't Save Economy

Monday, 28 Jan 2013 03:21 PM

By Newsmax Wires

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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?”




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