Oh no. I knew that at the root of the failure of President Obama’s economic policies is a failure to understand fundamental economics.
You remember a few days ago when the Congressional Budget Office found that Obamacare will induce people to work fewer hours and quit their jobs because with the new benefit – basically a form of unearned salary from the government – it will be less sensible to work at all.
And so White House economic officials, who also have degrees in Spin Theory, took to the podium of the briefing room and the North Lawn of the White House to plow new economic ground – this could get them all the Nobel Prize – by declaring that disincentives to work are A GOOD THING!
You know, people now have “choices,” like they can stay at home and take care of children – while others who are supporting them work and ignore their children – or even somehow, though they couldn’t afford health care, scrape together enough money to start a business!
Well, you can only get to such illogical theories when you are having trouble with economics 101, as did White House National Economic Council Director the other day.
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