“Nevertheless, the Keynesian economists have staged a political comeback during the Obama administration.” ~Thomas Sowell
So what were the results of Obama’s Keynesianism? If we can understand why we have such deficits & an enormous national debt, we can stop our teachers from polluting our kids’ minds with this awful teaching and vote in politicians who will balance the budget!
“All of Obama’s supposedly stimulative deficit spending and control-oriented Keynesian policies never jump-started the economy or drove anything close to healthy growth. His best annual growth rate was 2.9%, the worst best calendar year performance for any President since Herbert Hoover (Bureau of Labor Statistics, 2018).
Obama’s first term average growth rate was only .875%, his next four-year average was just 2.175%, and his full two terms averaged only 1.525% (U.S. Department of Commerce, 2017). Given he inherited a severe recession in his first year, it’s still no excuse for never having a decent economic performance for any calendar year after that over two terms or as an overall average. Draconian regulatory policies and overly encumbering laws with deficit spending and tax increases have consequences.
After the Republicans controlled Congress and stopped him from doing stimulus packages and held the government to some fiscal restraint, Obama had his best two years in his second term. When Congress restrained his Keynesian remedies, the economy improved.” P. 169
https://www.amazon.com/Economic-Clarity-Political-Confusion-Classical/dp/0578430215/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1547765974&sr=1-1