Obama’s Backward Economics

January 9, 2009

Washington, D.C.--“Barack Obama claims that Americans can only stave off economic disaster by trillions in government spending--which means trillions of dollars taxed or borrowed to finance government make-work programs,” said Yaron Brook, executive director of the Ayn Rand Center for Individual Rights.
 
“Obama-nomics couldn’t be more wrong.
 
“Prosperity requires that the government drastically cut government spending. That way, as much real capital as possible will remain in private hands, and be put to productive use by entrepreneurs to create valuable goods and services to sell at home and abroad. By taxing and inflating our wealth away, Obama will simply be creating more of the crushing debt that brought about the current crisis.”
 
“You don’t put out a fire with more gasoline. And you don’t end a recession by destroying capital.”  

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Dr. Yaron Brook is available for interviews. To interview Dr. Brook or book him for your show, please e-mail media@aynrandcenter.org

For more articles by Yaron Brook, and his bio, click here.