Obama's speech

IBD editorial published Jan. 2, 2009:

"McKinsey & Co. estimates total losses of $1.4 trillion to $2.2 trillion due to the credit collapse. But this can be reversed by making the underlying assets profitable again. The fastest way to do this is to cut taxes on businesses and entrepreneurs, which will immediately lift the rate of return on assets and thus their value."

(methinks that cut business taxes and get the Capitol Gain Taxes to zero)

"This in turn will bring more investment, more hiring and more income — all things that Obama has said he wants."

"We're not making this stuff up. According to research cited by former top White House economist Greg Mankiw, the economy expands by $1 to $1.40 for every $1 spent by government. But if you cut taxes instead, you really get results.

Mankiw cites a major study of tax changes dating back to 1947 showing that each $1 of tax cuts brings $3 in added GDP. This study is particularly significant because one of its authors, Christina Romer, is Obama's chief economic advisor."

Read the whole thing here.

Yesterday Obama said, "Only government can us out of mess" Let's us see now:

$1,000,000,000,000 spent by the gov't would get a return maybe $1,400,000,000,000 + GDP

$1,000,000,000,000 spent private business would get a return $3,000,000,000,000 + GDP

Percentages, boys & girls, Obama plan would get a return of 40% but my & IBD plan would get 300%.

Oh, by the way, Obama has spoken and now we are supposed to embrace his plan
that will further burden the economy by increasing federal spending and ushering in trllion dollar deficits "for years to come"? If he had been a Republican the shit would hit the fan......main stream media