In the Shadow of Hoover

thenation.com — While he was in China, Barack Obama made a bizarre declaration that the U.S. government must reduce its budget deficits in order to avoid "a double-dip recession." The remark was alarming because it suggests the president may not fully understand the country's economic predicament. Deficit spending is a cure for our troubles, not the cause. If Obama follows through and actually reduces the red ink, the Great Recession could be born again with new fury.

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