'Obamanomics,'the GOP Version
First there was "voodoo economics," then "Reaganomics," and now a Democrat finally has his own economic label: "Obamanomics." And as with the previous two, it's the critics who are coining the phrase, in this case the No. 3 Senate Republican, Tennessee's Lamar Alexander. Addressing Democratic presidential candidate Sen. Barack Obama's energy plan, which emphasizes conservation over new supplies, Alexander grins: "Obamanomics . . . would be when you repeal half of the law of supply and demand, the supply half. That's a new form of economics." Alexander adds: "The law of supply and demand's lasted a long time, and just to repeal half of it, I think Obamanomics is a good word for it." And it might not end at energy policy. "It could have other applications," Alexander says. "Senator Obama is a very creative person. He may be able to create more new rules of economics."
Tags: Barack Obama
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Reader Comments
Bill Clinton raised taxes and the economy got stronger. why?
Wall street is giving Obama more money than mcsame. why?
Historically the economy has done better under democratic presidents. why?
Bush took a surplus and turned it into the largest deficit in u.s. history and mcsame wants to continue his economic policies. why?
Obamanomics
There si another law the wizard from Illinois is trying to repeal. "For every action there is a equal and opposite rection," said Sir Isaac Newton. This law of physics is also applicable to economics; as we have witnessed in the last two tax increases applied to oil companies, Within days of their inception the pump price went up. Taxes applied to any business will always get the same rection. Yet Senator O doesn't seem to understand - or thinks it won't happen because he doesn't want it to.
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