By Don Feder, Boycott the New York Times
If economic illiteracy were a disease, The New York Times would be terminal.
The Times’ understanding of economics boils down to a simple formula — tax cuts, bad; spending, good. The Times thinks it’s not only possible, but desirable, to try to spend our way out of a recession caused by over-spending, deficits and misplaced priorities.
An editorial in yesterday’s Times urges President-elect Barack Obama to spend more — apparently, $800 billion isn’t enough of a “recovery package” — jettison his call for business tax breaks (which amount to less than $1 for every $5 of new spending) and forget entirely about his promise to cut taxes for those who make up to $200,000 a year.