Kudlow: The Road to Economic Demoralization

Special Edition - Friday, July 10th, 2009

It is clear that Obamanomics is causing the U.S. to lose competitiveness in the global race for capital, prosperity, and growth…

But what’s particularly galling about Obamanomics is that we may well be losing our competitive edge with Europe. While Europe is ever so slightly moving toward Reagan and Thatcher, the U.S. is shifting toward an overtaxed and overregulated model that smacks of François Mitterrand. That’s something no one should want to tolerate.

Heavy government controls at home, along with an income-leveling social policy couched in economic-recovery terms, is no way to run a railroad. At the simple stroke of a computer key, world investment flows to its most hospitable destination. That includes a reliable currency. But in President Bush’s last year and President Obama’s first, the U.S. has become a less-hospitable destination for global capital. That should worry everybody.

This from National Review Online - July 10th, 2009

http://article.nationalreview.com/?q=YzUxNWI5MGRhYWNjZGQ3MDE2YTVmMDhkYWE5NDQ4MDk=

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