I am not an economist. If I were, I would not admit it. However, I do have some economics education. This allows me to speak as an expert. Check CNN and MS NBC. It doesn't take much to qualify as an expert. All kidding aside, a major new economic philosophy has been announced to the world. The greatest economic theorist ever, Barack Obama, has just replaced his reliance on the thoughts of John Maynard Keynes (which everyone knows doesn't work anyway) with his own breakthrough philosophy which he calls "trickle up economics".
In this revolutionary theory if you have an economy that is sinking like a rock in a very deep lake you beg, borrow, or steal (tax) as much money as you can get your hands on and create all of the safety nets and social programs that you can conceive of and everything will be saved. It's just so obvious to him. Put money in the hands of those that have the most need and the least skills and they will invest in cars and refrigerators and the like and the economy will move forward.
No, this is not a joke. But it is truly an"Oh My God" moment. Once again we have taken a trip down the rabbit hole with our president as our guide. As he announced his great new plan he disparaged "trickle down economics" which has actually been seen to work a number of times in my memory. The first time I remember is in 1961 when JFK cut taxes and brought the economy back in a very short time. But, as usual, history and logic take second place with our president. Political ideology and ego are everything.
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