From David Leonhardt's NYT piece on Obamanomics:
Yet laissez-faire capitalism hasn’t delivered nearly what its proponents promised. It has created big budget deficits ...
Laissez-faire capitalism may or may not live up its proponents hopes (I think it does--or would if we actually tried it since what we see in the world around us isn't truly laissez-faire capitalism), but it certainly does not create big budget deficits. The responsibility for deficits lies with pols about whose abysmal performance there can be no doubt. Leonhardt's assertion has to rank as one of the stupidest things ever written.
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