Dr. Mankiw posts about Obama’s budget proposals. Sometimes I feel sympathetic to Democrats who want more government programs to protect people and make sure they have certain things because, after all, it will make them happier. I am very understanding of the trouble that poverty can cause. However, assuming someone as educated as Obama does not understand the economic consequences of these expenses for things with very low long term value is not acceptable to me. He is the president, and he should understand that enduring this recession without stimulus and tax credits is nothing compared to the progress that will be lost if the government continues to spend such a high percentage of GDP. That leaves only two options: either Obama does not understand principles of basic macroeconomics, or he is willfully hurting the country to remain popular among the citizens who do not understand those principles. I don’t know which is more frightening. Robert Hanlon, though, gives me an inkling which it is:

Never attribute to malice that which is adequately explained by stupidity.

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