Obamanomics Revisited

If leadership is defined as recognizing a crisis, addressing its challenges, and setting new directions while remaining true to one’s values, then Barack Obama is already demonstrating his strengths as a leader. He has inherited an economic crisis worse than any the nation has experienced since the Great Depression. Within fewer than 50 days in office he has signed a historic stimulus package to bolster demand and create 3.5 million jobs. Governors, business leaders and economists from both the left and the right have applauded the stimulus. Friday’s distressing employment numbers indicate that much more may be needed.

via Opinion: In Defense of Obamanomics – WSJ.com.

The banking crisis and the economy have preoccupied most everyone , including many of the economics bloggers. There has been surprisingly little commentary on Obama’s budget proposal. The article quoted above is written by a proponent of the Obama budget. It outlines the priorities and the rationale. It also responds to some of the critics, mainly Republican politicians.

This article is an analysis. It identifies several problems in the thinking behind the Obama proposal.

My opinion? Everything is a trade-off. Beside the general trade-offs inherent in taxation, there are specific trade-offs involved in each of President Obama’s budgetary initiatives. I don’t think I’ve identified the most important trade-offs (yet), so it’s simply too early to have an opinion. I’m all for people pointing out the benefits, costs, and risks, but I do get tired of the one-sided advocacy.


One response to this post.

  1. Posted by Tom Awtry on March 10, 2009 at 7:09 am

    I agree with much you have said, but feel the President’s Stimulus package must enhanced and increased:



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