The recent growth in spending has been camouflaged by a focus on deficits. Budgets and proposed legislation, like that on health care, are being judged not by their impact on spending and taxation, but by their projected effect on the deficit. Equal increases in spending and taxes reduce economic growth, even if they do not alter the deficit.
I added emphasis to the big lie he wants us to believe. This isn't even very good mathematical chicanery. I ripped it to shreds with nothing more than basic critical thinking skills, some Excel proficiency, and a little bit of math knowledge. Evidently right wingers - even those with teaching positions at highly regarded universities lack most of these.
Here is an afterthought. I've often said that Clinton was the best Republican president since Ike. I wonder though, if Ike might have actually been more economically liberal. With Barack Hoover Obama, there can be no doubt. He mainlines Reagan Koolaide. The sad result is that Democrat is the new Republican.
So, what we can expect going forward is Republican-like economic performance from the Obama administration.
Meanwhile, Republicans have divorced themselves from reality. Lazear is a prime example. Beyond him you have the genuine loons: the Religious Right who derive from Jesus a message of hate, teabaggers who generate hate from their own infernal confusion engines, and the Reich-Wing noise machine that constantly spews hate.
So, you see, on all fronts, we are pretty badly SCREWED.