Why don't we get this stuff in the US? Der Spiegel compares Obama with Bush and Lawrence Summers as Bush's Cheney. Both Obama and Bush pursued policies with a religious zeal, and disregarded science and common sense.
The Obama Administration has made 5 errors on the economy. Obama's Myths:
1. The debt is not as bad as it may seem.
2. The current spending is OK since it is geared to reviving the economy.
3. When the crisis ends, borrowing will fall.
4. The US is borrowing from capital markets, such as the Chinese and Japanese
5. The additional borrowing is harmless and will not lead to increased inflation.
http://www.spiegel.de/international/world/0,1518,632494,00.html
I just hope that when this experiment fails, people understand that it failed. But the people who write history will probably distort it.
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