Magazine May 4, 2009, Issue

The Cost of Audacity

(Roman Genn)
Obamanomics means less growth

Addressing Congress in February, President Obama argued that the recession was no reason to hold off on his signature initiatives. It was, instead, all the more reason to act on them.

“The fact is, our economy did not fall into decline overnight,” said the president. “Nor did all of our problems begin when the housing market collapsed or the stock market sank. We have known for decades that our survival depends on finding new sources of energy. Yet we import more oil today than ever before. The cost of health care eats up more and more of our savings each year,

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

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