Paul Hsieh has a great op-ed at PajamasMedia about the Neo-Keynesian snake oil being peddled by a variety of left-leaning economists and journalists. They tell us not to fret about federal deficits, but Hsieh warns us not to trust them:
Suppose a traveling salesman came to your neighborhood peddling a miraculous snake oil remedy that would cure your baldness, help you painlessly lose 20 pounds, and make you irresistible to women. Plus adding a teaspoon to your automobile gasoline tank would double your gas mileage and pay for itself in just a few weeks. Most of us wouldn’t give him the time of day, let alone our wallets.
Most of these snake oil salesmen vehemently denounced the Bush deficits, but now tell us not to worry. Their sudden reversal is, of course, inspired by the need to justify the havoc created by Obamacare and a variety of other statist boondoggles.
They are not honest men. Caveat emptor!
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