President Obama echoed Herbert Hoover's idiotic views of economics during his radio address today:
Government has to start living within its means, just like families do. We have to cut the spending we can’t afford so we can put the economy on sounder footing, and give our businesses the confidence they need to grow and create jobs.
Paul Krugman describes it well enough: "Yep, the false government-family equivalence, the myth of expansionary austerity, and the confidence fairy, all in just two sentences."
So, what's worse: right-wing economic fallacies that harm our country promoted and implemented by a Republican president, or right-wing economic fallacies that harm our country promoted and implemented by a Democratic president?
It's time to admit that Barack Obama is not on The People's side.