Norquist: Obama Stimulus Hampers Recovery

Tuesday, 03 Apr 2012 02:42 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  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.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

FBI Takes Wendy Davis Documents But Scope of Probe Unclear

Friday, 18 Apr 2014 16:58 PM

The FBI has control of documents related to Texas State Sen. Wendy Davis' work while she was an attorney for the North T . . .

Tea Party Express Chairwoman Steps Down

Friday, 18 Apr 2014 14:23 PM

Amy Kremer, chairwoman of the Tea Party Express is leaving her post so she can focus on the campaign for Senate Minority . . .

SC Gov. Haley in Double-Digit Lead Over Democratic Challenger

Friday, 18 Apr 2014 14:04 PM

South Carolina Republican Gov. Nikki Haley holds a substantial lead over Democratic challenger Vincent Sheheen in this y . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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