THE ERA OF BIG GOVERNMENT IS OVER AGAIN
APRIL 30, 2012
WRITTEN BY CHRISS W. STREET
Four years ago, Nobel Prize winning economist Joseph Stiglitz and the ultra-liberal Roosevelt Institute, where he serves as Senior Fellow, enthusiastically heralded the Presidential election of Barack Obama as the beginning of at least a decade of continuous expansion of government intervention into the American economy. Stiglitz trumpeted the capture of the Executive and Legislative branches of the United States government by the Progressive wing of the Democratic Party for the first time since the 1970’s, as public’s endorsement of new social initiatives that would rival the Great Society’s Medicare, Medicaid and education funding that began with the 1964 election of President Lyndon Johnson and continued through 1980 under Nixon, Ford and Carter. But it has come as a severe shock to Stiglitz and the Roosevelt Institute that voters have already turned against the values of the days of disco.
President Obama’s election sweep gave him the mandate to grow federal government spending 60% faster than President Johnson, by growing the national debt four times faster: Continue reading