Liberalism, As We Know It

With Americans, on average, worth less and earning less than when he was inaugurated, Barack Obama is requesting a second term by promising, or perhaps threatening, that prosperity is just around the corner if he can practice four more years of trickle-down government.

This is dubious policy, scattering borrowed money in the hope that this will fill consumers and investors with confidence. But recently Obama revealed remarkable ambitions for it when speaking in Pueblo, Colo., a pleasant place Democratic presidents should avoid.

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