Sorry for the few blog updates the past few days. I was in Tennessee for the memorial service of US Navy SEAL Aaron Vaughn. His family wanted me to tell you that they have felt your prayers.
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Yesterday President Obama said, "We had reversed the recession, avoided a depression, gotten the economy moving again, but over the last six months we've had a run of bad luck."
He went on to list these three "headwinds": the Arab Spring, the Japanese tsunami and the European debt crisis.
Give me a break.
At 6:00 we outlined the inconsistency with each of these points:
http://media.worldnow.com/kfmbam/podcast/the_mike_slater_show_5094.mp3
-The president says that the Arab Spring disrupted oil markets and caused gas prices to go up and the economy to tank. Shouldn't we then, Mr. President, allow for MORE drilling in America and provide more stability to oil markets?
-By liberal standards (and according to Larry Summers), the Japanese tsunami should have STIMULATED the economy.
-And the EUROPEAN debt crisis?! EUROPEAN? The president is blaming the debt crisis in EUROPE for our bad economy, and not, I don't know OUR debt crisis?
We had some more great phone calls at 8:00 on the childish "pass the buck" attitude of our president and what we should be doing instead!
http://media.worldnow.com/kfmbam/podcast/the_mike_slater_show_5096.mp3
What is the WORST thing to do? Spend more money we don't have. But that of course is what Krugman always wants us to do. He even argued joked that the best thing that could stimulate our economy would be an alien invasion. This is based on the belief that WWII spending ended the depression, which isn't true. We laid it all out in the second segment of 6:00:
http://media.worldnow.com/kfmbam/podcast/the_mike_slater_show_5094.mp3
*Krugman is talking space alien, not illegal alien.
