A Tangled Web

FLAWED KERRYNOMICS.



NRO has a useful article by J.E. Carter and C.V. Conda exposing the economic shallowness of John Kerry's "plan." 368 economists, including six Nobel Laureates, have released a statement warningg that Sen. Kerry’s policies “would, over time, inhibit capital formation, depress productivity growth, and make the United States less competitive internationally. The end result would be lower U.S. employment and real wage growth.”



A few key points;



Kerry says he wants to balance the federal budget, but his spending proposals will add an extra 226 billion to it!



Kerry wants to emulate the failed tax and spend policies of Europe. "Today, U.S. per capita GDP is 38 percent higher than that of Germany and 43 percent higher than that of France. Indeed, as economist Bruce Bartlett recently pointed out, “On average, Europeans only live about as well as those in the poorest American state, Mississippi.”



On job creation, the Senator tells us he plans to "create" 10 million new jobs in his first term. At the current rate, 8.2million new jobs will be created anyway during the next term. Kerry has yet to share with us HOW he will create the extra 1 million jobs he boasts about.



It amuses me to hear lickspittle UK commentators sagely agree that Kerry is on the button when it comes to issues like the US economy. As ever, wishful thinking is substituted for intelligent analysis.