I am not sure whether “Demonomics” is Demon Economics or Democrat Economics. It is probably a distinction without a difference as some of the recent comments by leading Democrats defy logic. I have to wonder how these people not only got as far as they did, but stay in positions of power. Perhaps the biggest example has been how the Democrats have been hawking another extension of Unemployment Compensation payments. House Speaker Nancy Pelosi postulated that,
“It injects demand into the economy. It creates jobs faster than almost any other initiative you can name.”
Update March 27, 2009: Rich Santelli started a firestorm (in a great way) across the United States with his comments a month ago. Tea parties have been been held across the country attracting up to 15,000 at an event in California. Glenn Beck has championed the tea party movement and has provided a link to planned events. April 15 seems to be THE big day for tea parties with an estimated 150 planned.
In a recent posting on the Investor’s Business Daily Editorials page, they questioned the lack of coverage by the mainstream media. I think that many of us who no longer get their news from traditional sources know why.