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WHY THE DEMOCRATS LOST: Because they cannot win unless they explain Keynesian economics and inform the public of the dramatic reduction in federal spending and federal employment since 2010—and the consequences of it. Obama will not (or, intellectually, cannot) do that. So others must.

…facts, and the economic effects of these statistics (i.e., Keynesian economics), refuses to do that. And in any event probably couldn’t do it coherently, to save his live. Or to…

On Smith On Cowen

…2 years it lasted. The consumption tax increase was a huge shift in fiscal policy which dwarfs sequestration. That might explain the difference in the effects. Cowen: Japan is in…