In light of Obama’s disturbing and even a little wacko remarks after his latest revenue fold, in which he manically assured us that he’s always willing to go even further down the compromise road, and that dancing to the bankers’ tune in a wounded economy—what have Geithner and his advisors been feeding him?—is his priority, reality has yet again reared its sobering head. Vide the International Monetary Fund’s report: “Growth Forecast Errors and Fiscal Multipliers.” The Wall Street Journal links to it.
Once again, as with good old George W, we seem to have a president living, cogitating, and negotiating in a self-referential, part-fantasy realm.