Dubya's "Voodoo Economics"

(A term coined by his dad, let’s not forget, before he “saw the light”…).

I’ll save you the trouble of trying to decipher these scribblings by Jeanne Sahadi of CNN about the supposedly grand plan from George W. Milhous Bush to save our ever-more moribund economy and summarize it as follows: Dubya’s answer, as always, is tax cuts and ever-more debt.

(Another cringe-worthy columnist, Ed Henry, preaches for the umpteenth time here that, for Dubya’s “legacy,” he must compromise with Congress, which makes me wonder what planet this man is living on; at what point has Dubya ever compromised on anything?).

And largely as a consequence of this stupidity, this story tells us that, for the first time in 100 years, British living standards have risen above those of Americans (somehow I don’t exactly feel like “raising a pint” over that one).

Paul Krugman touched on all of this today here, and his blog contains posts from today and yesterday that basically support the fact that much of Europe has caught up with us economically; it also rebuts the myth that lower tax rates in this country contributed to economic growth (for anyone besides the investor class, I mean).