Norquist: Obama Stimulus Hampers Recovery

Tuesday, 03 Apr 2012 02:42 PM

By Newsmax Wires

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
While the Obama administration blames the weak economic recovery and sluggish hiring on the financial crisis, the administration’s own stimulus program represents the culprit, says Grover Norquist, president of Americans for Tax Reform.

“Obama’s stimulus, multiple jobs bills, and massive new regulations on financial markets, housing, health care, credit cards, and energy have created chaos in America’s labor market,” Norquist and John Lott write for Politico.

The pair reccently co-authored the book, “Debacle: Obama’s War on Jobs and Growth and What We Can Do Now to Regain Our Future.”

The stimulus spending has simply taken money out of some Americans’ pockets to put it into others, the duo say.

“Spending almost $1 trillion on various stimulus projects means moving around a lot of resources and jobs,” they write. “The new regulations are having a similar effect. And people don’t instantly move from one job to another. All these interventions temporarily increased unemployment and delayed the recovery.”

While the White House has adopted any number of explanations for the economy’s torpor, it has never addressed the key question, Norquist and Lott say. “Why did countries that didn’t follow Keynesian policies, such as Canada and Germany, fare so much better than the U.S.?”





© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
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.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Top Democratic Aide Says No to Running a 2016 Hillary Campaign

Sunday, 21 Dec 2014 19:33 PM

One of the leading candidates to manage Hillary Clinton's expected campaign for U.S. president in 2016 has withdrawn fro . . .

Atlanta US Attorney Yates Tapped for Deputy AG

Sunday, 21 Dec 2014 17:46 PM

President Barack Obama is preparing to nominate the top federal prosecutor in Atlanta to the No. 2 position at the Justi . . .

Allen West Says Goodbye to Florida at Holiday Party

Saturday, 20 Dec 2014 08:49 AM

Tea party hero Allen West is making his final Florida appearance before moving to Texas. . . .

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