The Economic State of the Union

In last night's State of the Union, Bush danced around the very real economic concerns faced by Americans. Of course, this is nothing new.

The fact is, Bushonomics -- which I'd characterize as large supply-side tax cuts, deregulation, with no regard to fiscal constraints -- has failed... Full Story »

Posted by Kaizar Campwala

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Review

Gary Clark
3.4
by Gary Clark - Oct. 1, 2008

This skeptical, liberal view of economics that began as "VooDoo Economics" under Reagan, rightly sums up the failure to deliver goods to the "unwashed masses", who are awash in rising food and energy prices, foreclosures, and medically induced bankruptcies. Tax cuts could be productive if directed to areas of need that will give a return, reducing foreign dependency and building long term productivity. Instead, tax cuts for the wealthy have resulted in: #1. pricey art speculation, more Louis Vuitton and Rolex inventory in closets, customized yachts and airplanes, and luxury resort developments. #2. massive investment in military, homeland security and police privatization and mergers of already monstrously powerful corporations. Brainless spewing of dollars, likely spent on past-due credit payments or Chinese made consumer schlock, has no substantive effect in extricating us from a future which demands more efficient use of energy and capital. A note: "de-regulation" is a misnomer which obscures regulation changes that favor structural corporate-state unification, which means that both government and producers are out to get in the pockets of the citizenry. A Dismal Science, indeed.

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