That is my new term for the bumbling Obama administration’s apparent economic theory.
I guess the way this is supposed to work is that, by increasing the number of food stamps, unemployment benefits, and medicaid, prosperity and growth will be generated throughout the entire economy. I think Isaac Newton would have a problem with that. Making things trickle upward takes just the kind of metaphysical faith that Obama’s supporters seem to have in him. I guess we should have faith, too, other than the fact that it has failed every time it has been tried in the recorded history of mankind. Check Plymouth Rock, Cuba, and Venezuela for a few examples of collectivism economic theory results, not to mention Europe’s 40 year malaise.
I have always felt that one of the major, among many, mistakes that the Republican party has made over the last 25 years is to have not defended the whole concept of supply side economics more vigorously. Dating all the way back to George H. W. Bush labeling it as “Voodoo Economics”, Bob Dole attacking supply side in his primary bid, and even Mike Huckabee’s populist appeal in the most recent election, there seems to be a reluctance on the part of the GOP to make something that HAS worked every time it has been tried a centerpiece of their economic approach.
The feeling seems to be that “trickle down” is not appealing to working people who only sit at home and seethe at rich people. I don’t think that could be further from the truth. Ask any cabbie in NYC and I think they could provide a better explanation of economics then your average Democrat party Congress Critter. A prime example is President Obama’s recent boneheaded attack on “trips to Las Vegas” as some sort of cultural indiscretion on the part of US corporations. Anybody think that every dealer, waiter, cabbie, showgirl, and hotel worker, many of whom voted for Obama, did not cringe when they heard these unfortunate remarks? And yet our idiots seem to be afraid make the counter argument that a rising tide lifts all boats, something even GED recipients can understand. So frustrating.
So, buck up, me hearties. I think the American public is starting to get it. They know on it’s face that Obama’s proposals won’t work. We just spent $800B for nothing. There is no talk of cutting taxes and providing incentives for business and investment, things that would re-invigorate our economy. If conservatives play their cards right, collectivism will be relegated to the junk heap of history before Obama is through. Now whether our GOP politicians get it, that is another matter. I can only HOPE for CHANGE.