Obama: Lousy job creation caused by...tax cuts??
Obama didn't explain the mechanism by which he believes cutting taxes reduces job growth--but then kings don't have to explain their thinking. In any case Obozo's theory certainly contradicts decades of seemingly uncontroversial economic theory that tax cuts stimulate spending, thus raising total demand, thus ultimately creating jobs.
But of course King Barry doesn't need a PhD in economics to know how tax cuts affect job creation 'cuz he's a "community organizer." And they know all about how economics reeallly works. Kinda like the Occupy Wall Street crowd. Property is theft! Yeah, man!
Rumor has it the Nobel committee has already decided to award Barry the prize for economics, to go with his Nobel peace prize--which they decided to give him the day he took office. Cuz they knew he was gonna do so much peace-y stuff n' all.
Gotta say that when I first read the transcript I thought this was a prank from the Koch brothers, cuz I couldn't believe he'd say something so flatly at odds with decades of economic theory. But the video does show him saying that.
Eh, they prolly photoshopped it.
I was wondering: Will any reporter have the balls to ask him where he got this novel economic theory? Nah. The only guys who would question him about that aren't allowed to ask questions.
Neat trick, eh?