Jun 22, 2012
What is Obamanomics?
Obamanomics focuses on government spending and government hiring as the key to everything. The reason why Obamanomics is failing is because there is a fundamental difference between public and private employment. Public employment is not self-sustaining. It relies on the private sector to pay for it. What happens when you constantly increase public employment and public spending? You eventually run out of other people's money to spend. You cross the Thatcher Line: the point at which the burden of government begins to overwhelm the ability of the private sector to pay for it.