Framing the Dialogue

Posts Tagged ‘arthur laffer’

Return to Prosperity

I often wonder how political “leaders” can look at a problem and see such divergent paths to remedy the situation. In my adult life, this period is the worst that I have encountered. I don’t care that pundits say that the “recession is over” because it doesn’t feel that way to me or my wallet. Author Arthur Laffer provides an in-depth look at the state of the economy and gives a pretty detailed prescription for bringing America out of the blackness (redness if you are an accountant). Return to Prosperity should have used this quote from one of our presidents very early in the book,

Update – Rich Man Poor Man

About two years ago I wrote a post about what “poor” really means in America and what amenities many of those below the poverty line have.  I don’t want to delve back into that because you can read the original post at this link.  I was somewhat perplexed by the fact that the poverty line in the United States seems rather static in that we always have a certain percentage of folks below the line and I believe that there is political incentives to always have the poor.  The poor seem to be a handy voting block for whoever will promise them the most entitlements.  I generally stopped there in my deep thoughts, but there is more.

Econ 1

The Great Vilsacko performs his money magic trick.

I am currently reading Return to Prosperity by Phd economist Arthur Laffer and I’ll review the book as usual after I finish it, but a recent statement by President Obama’s Agriculture Secretary had me referring to the “Econ 1” phrase Dr. Laffer uses frequently when describing politicians lack of knowledge that is taught in a basic economics class. Secretary Vilsack appeared on MSNBC’s Morning Joe to tout the benefits of the Supplemental Nutrition Assistance Program (“SNAP” or Food Stamps as we used to call it). Vilsack called SNAP the “most direct stimulus you can get into the economy during these tough times.” I guess that he also considers the fact that America has vastly increased the number of people “stimulating” the economy as 1 in 7 people are in the program. Let that sink in…NEARLY 15 PERCENT OF OUR FELLOW AMERICANS GET FOOD FROM THE GOVERNMENT!