Raise Taxes, Growth Be Damned

In the run-up to this weekend’s G-8 summit at Camp David, journalists have unfavorably compared European “austerity” with Barack Obama’s economic policies.

European spending cuts, the argument goes, have hurt people and are arousing political opposition, while Obama’s proposals to keep federal spending at 24 percent of gross domestic product indefinitely are likely to succeed.

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Author Bio:

Michael Barone, senior political analyst for The Washington Examiner (www.washingtonexaminer.com), is a resident fellow at the American Enterprise Institute, a Fox News Channel contributor and a co-author of The Almanac of American Politics.
Author website: http://www.bernardgoldberg.com